Bernstein: Crypto bull market may continue until 2026, Bitcoin is expected to reach $200,000 by the end of this year or early next year

PANews reported on July 14 that according to The Block, Bernstein analysts expect the crypto bull market to continue until early 2026 and reiterated their prediction that "Bitcoin will reach $200,000 by the end of 2025 or early 2026". On July 14, Bitcoin broke through $123,000 to hit a record high. Analysts pointed out that this cycle is led by institutions, which is different from the previous model driven by retail investors. The total assets under management of Bitcoin ETFs have exceeded $150 billion, of which BlackRock IBIT accounts for $84 billion.

The report said that the US GENIUS Act and Clarity Act will accelerate the compliance process, and companies such as Circle, Coinbase and Robinhood will benefit as core regulated platforms. In addition to Bitcoin, networks such as Ethereum and Solana have gained growth momentum due to the trend of asset tokenization, and the stablecoin market size has approached $250 billion. Analysts believe that blockchain is building a new Internet-native financial system, but warn that the market expansion process may be "long and tiring." Bernstein disclosed that some of its affiliates are market makers for Coinbase and Robinhood, and may receive investment banking service compensation from Circle. The analyst personally holds multiple cryptocurrency positions.