- Bernstein analysts now expect the crypto bull market to run until a potential peak in 2027, extending their previous timeline.
- The firm forecasts that Bitcoin could reach $150,000 to $200,000 within the next year, with the rally then broadening to include Ethereum, Solana, and high-cap DeFi tokens.
- Bernstein also raised its price targets for several crypto companies, including Robinhood, Coinbase, and Circle, citing factors like increased trading volumes and a pro-crypto policy environment.
Bernstein is extending its crypto bull market timeline, telling clients Tuesday it now expects the cycle to peak in 2027 rather than 2025–26.
The Wall Street broker lifted its price target on several crypto-focused institutions, with Robinhood, Coinbase, and Circle as the biggest winners.
For Robinhood, the firm raised the target from US$105 (AU$162) to $160 (AU$248) per share, projecting a 53% compound annual EPS growth rate through 2027. Bernstein highlighted Robinhood’s acquisition of Bitstamp, which adds an institutional user base, and its European rollout of staking and tokenised products as growth levers.
Related: Japan Set to Approve First Yen-Pegged Stablecoins in Q.4
A Lot of Capital Rotation Ahead
Analysts led by Gautam Chhugani forecast Bitcoin reaching US$150K (AU$232K) – $200K (AU$309K) within the next 12 months. There’s a catch, however: the rally, the analysts noted, will rotate into Ethereum (ETH), Solana (SOL), and high-cap DeFi tokens, with Coinbase best positioned to capture that expansion, they said.
Like most in the crypto market, they expect the Federal Reserve to cut rates somewhere around September or later into 2025, a trigger that could drive demand for staking products and on-chain treasury strategies modeled after Strategy’s Bitcoin play, but with ETH and SOL offering additional yield.
Bernstein projects trading activity will build through 2026 and climax in 2027, citing already elevated flows on Robinhood and Coinbase alongside accelerating USDC issuance. The report estimates Circle’s stablecoin supply could reach US$173B (AU$268B) by 2027, currently at US$68B (AU$160B)
Related: Centrifuge Surpasses US$1B TVL as Institutions Embrace Real-World Assets
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