Bitcoin Price Soars as Wall Street Sees Bullish Future Ahead
Wall Street is becoming increasingly bullish about Bitcoin, as reflected in a recent report by Bernstein. According to Gautam Chhugani, Bernstein's senior analyst, the price of BTC could reach $125,000 by the end of 2026. This prediction is based on the growing influence of spot Bitcoin ETFs, institutional investors, and corporate buyers.
The market has changed compared with earlier cycles, with recent drawdowns being closer to 50% rather than the usual 75% to 90%. Bernstein believes that this change may be due to institutional ownership helping create a stronger base during market corrections. Standard Chartered has also provided a more conservative target of $100,000 for the end of 2026.
In the longer term, Bernstein projects a potential cycle peak near $300,000 in 2029 under its stronger bull case scenario, with a possibility of BTC reaching as high as $500,000. This is supported by Pantera Capital's long-term scenario of around $740,000.