Bernstein Boosts Bitcoin Forecast to $150K by Mid-2027
Bernstein analysts have raised their Bitcoin price forecast to $150,000 by mid-2027. According to the firm's base case, this is a significant increase from its previous prediction of $125,000 by year-end 2026. In fact, under a stronger scenario, Bernstein expects Bitcoin (BTC) to reach an astonishing $200,000 by mid-2027.
The analysts attributed their forecast to factors such as institutional ownership, the introduction of US spot Bitcoin ETFs, and Bitcoin's limited supply. This limited supply is notable, with about 59% of Bitcoin's total supply remaining inactive over the past 12 months.
Bernstein also outlined a potential peak near $300,000 in 2029. In this scenario, the firm expects Bitcoin to follow its traditional four-year market cycle. However, they did note that rising yields could create a self-reinforcing cycle of higher interest expenses and larger fiscal deficits, potentially impacting investor sentiment.
It's worth noting that Bernstein has adjusted its Strategy price target from $450 to $350, citing its revised Bitcoin cycle model and faster share dilution. As of the time of reporting, Bitcoin's current price was around $78,929.13.