In the run-up to Federal Reserve Chairman Jerome Powell’s Jackson Hole address, Bitcoin pulled back from $123,000 to just $113,000. Nonetheless, one analyst group is bracing for Bitcoin to charge forward through the year 2027.
Anticipating a “long, exhausting bull run” for cryptocurrency into 2027, Bernstein analysts envision Bitcoin reaching $150,000 to $200,000 in the next six to 12 months. Bernstein analyst Gautam Chhugani and his associates believe that “we are in the middle of a digital assets revolution backed by regulatory reform.”
Of course, Chhugani is alluding to President Donald Trump’s pro-crypto administration. Since Trump retook the White House earlier this year, Bitcoin and Ethereum have generally trended higher despite a pullback in recent days.
That price pullback is presumably related to the market’s reluctance to continue buying assets perceived as “risk-on,” such as Bitcoin. Before cryptocurrencies can resume their march toward $125,000, financial traders want to hear confirmation from Powell that the Federal Reserve will commence interest-rate cuts in September.
Bitcoin price chart. Courtesy: @cagatayderki
Certainly, a minor price pullback shouldn’t shake cryptocurrency enthusiasts out of their investments. If a 20% or 25% drawdown is too much to handle, then Bitcoin ownership might not be your cup of tea.
Clearly, the analysts at Bernstein aren’t overly worried about a sustained price pullback. “We expect a long Crypto bull market, continuing the surge into 2026 and potentially peak in 2027,” they wrote recently.
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Headline scares will come and go, but a crypto-supportive administration will be here for at least three more years. “[T]he Trump admin. is in mission-critical mode (incl. SEC/CFTC) to build U.S into the crypto capital of the world, so market peak is not anywhere near,” assured the Bernstein analysts.
Pro-cryptocurrency legislation is already on the books, with the GENIUS Act having been signed into law last month. That law establishes a federal framework for dollar-backed stablecoins, so it’s not directly a Bitcoin law but it could presage further reform in 2025 and 2026.
Courtesy: @thepowerfulHRV
If the Bernstein predictions come true, one can only wonder how big Bitcoin’s market cap will grow. Already, it has surpassed the market caps of Google and Amazon.
Moreover, investors might not have to wait a full year to see substantial gains. On that topic, the Bernstein analysts are “convinced” that Bitcoin “will touch new highs (past $124K) for the remaining part of the year.”
It’s very likely that if Bitcoin heads higher, so will Ethereum as well as crypto-associated stocks. This probably explains why the Bernstein analysts anticipate upside price movement for Coinbase, Robinhood, and Circle stocks.
The near-term objective, however, is for the market to quit selling Bitcoin and Ethereum. No need to panic, though, as the trend is still your friend and on a long-term time horizon, crypto’s growth appears to be unstoppable.
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