Bernstein's analysis of the crypto cycle: "We have never believed this much"

Bitcoin today broke its new record at 123 thousand dollars, while research and brokerage firm Bernstein published another analysis stating that it stands by its 200 thousand dollar forecast. Analysts from the company, who have previously expressed their confidence in their forecast multiple times, stated that they believe the current crypto bull cycle will be both long and exhausting.

"Bitcoin has become a reserve asset"

Analysts expressing that Bitcoin could reach 200 thousand dollars by the end of 2025 or the beginning of 2026 stated that this cycle is currently formed with institutional purchases and government support. In the report shared by Gautam Chhugani, the importance of much clearer crypto regulations was also emphasized:

"The number of crypto wallets is increasing. The total value of stable coins has reached 250 billion dollars. With the involvement of banks and companies, this figure will rise to several hundred billion dollars. The adoption of tokenization and ETF entries are increasing. Bitcoin has reached a position as a hard-to-obtain reserve asset. In the U.S., regulations such as the GENIUS and Clarity Act will create a clearer legal system. Therefore, our confidence in the blockchain and digital asset market has never been this high."

"It will flow to Solana and others"

Analysts stated that the institutional investment wave that started with Bitcoin and Ethereum ETFs would also shift to other cryptocurrencies.

"At the beginning of 2024, the ETF frenzy that started with Bitcoin and later continued with Ether will extend to other cryptocurrencies as well. There will be an expansion towards Solana and other tokens in the top 20. Following the Clarity Act, the initial steps towards the formation of a fully on-chain capital market will be taken with 24/7 transactions."

Published: July 14, 2025 17:14Last Updated: July 14, 2025 17:20