Bernstein analysts remain confident about Bitcoin’s long-term prospects, describing the current price decline as the weakest bear case in Bitcoin’s history. They reiterated their forecast that Bitcoin will reach $150,000 by the end of 2026. According to Bernstein, the current market downturn reflects a crisis of confidence rather than any structural damage to Bitcoin’s network or investment fundamentals. Unlike previous crypto bear markets marked by significant financial losses, hidden debts, or systemic failures, such conditions are absent this time.
The analysts highlighted increased institutional support as a distinctive feature of the current market, citing positive US political attitudes toward Bitcoin, growing acceptance of spot BTC ETFs, rising corporate treasury involvement, and sustained interest from major asset managers. However, Bernstein cautioned that Bitcoin remains a liquidity-sensitive risk asset rather than a fully stable safe haven investment.
They also dismissed concerns that Bitcoin is losing relevance in an AI-driven economy, suggesting that blockchain and programmable wallets could become central to financial systems for autonomous software agents in the future. Addressing quantum computing fears, Bernstein noted that this challenge applies broadly to all digital systems and is not unique to Bitcoin.
Furthermore, Bernstein described the financial structure of Bitcoin holding companies as stable, capable of meeting obligations even amid severe market downturns. The analysts view the current price drop as a reflection of weak market sentiment rather than systemic failure, expressing confidence that Bitcoin’s price will soon move toward recovery. Presently, Bitcoin trades near $70,000, with significant long-term appreciation expected according to Bernstein.
Source: bitcoinmagazine
