Analysts at Bernstein foresee Bitcoin recovering to $125,000 by the end of 2026 and potentially climbing to a new peak of around $150,000 by mid-2027. In their primary scenario, they also consider the possibility of Bitcoin reaching approximately $300,000 at the peak of the next cycle in 2029.
This forecast is grounded in Bitcoin's historical four-year cycle and its value model in relation to the marginal costs of mining. Analysts also highlight factors such as demand from ETFs and corporate treasuries, alongside a growing interest in scarce assets amid rising government debt levels.