Wall Street is becoming increasingly bullish about Bitcoin. Gautam Chhugani, Bernstein’s senior analyst, expects BTC to reach $125,000 by the end of 2026, rise to $150,000 by mid-2027 and potentially hit $300,000 in 2029. Its more aggressive scenario places Bitcoin at $500,000 in 2029 and $1 million by 2033.
Bernstein expects Bitcoin to reach $125,000 by the end of 2026. The prediction is based on the growing influence of spot Bitcoin ETFs, institutional investors and corporate buyers.
According to the firm, the market has changed compared with earlier cycles. Previous downturns often resulted in 75% to 90% crashes, while recent drawdowns have been closer to 50%. This means that institutional ownership may be helping create a stronger base during market corrections.
Standard Chartered has a more conservative $100,000 year-end target and says BTC to retest $126,000. Tom Lee has offered a more aggressive outlook, he sees a possibility of Bitcoin to hit $200,000–$250,000 in 2026 if it breaks away from its traditional four-year cycle.
The report also mentions that Bitcoin could reach around $150,000 by mid-2027. Whether the market can move beyond this level will depend on institutional demand, global liquidity and whether the current cycle continues expanding.
For 2029, Bernstein expects a potential cycle peak near $300,000. Under its stronger bull case, Bitcoin is expected to climb as high as $500,000.
Pantera Capital has also presented a long-term scenario of around $740,000.
Cathie Wood of ARK Invest has previously discussed a $1.2 million bull case by 2030. This scenario depends on a major acceleration in institutional and global adoption.
It remains a high-end forecast and would require Bitcoin to attract significantly more capital over the coming years.
Bernstein’s longer-term projection places Bitcoin at $1 million by 2033. The thesis is based on BTC’s fixed supply, expanding institutional participation and the potential impact of rising government debt and inflation.
Former Binance CEO Changpeng Zhao has also said he expects Bitcoin to eventually reach $1 million and believes it might happen sooner than many expect.
Michael Saylor has predicted Bitcoin to reach around $21 million by 2046. His argument is based on BTC gradually absorbing value from traditional stores of wealth, including gold and real estate.
Bernstein says ETF outflows during recent corrections stayed below 5%, as it shows that institutions may be holding through volatility rather than selling aggressively.
More than 60% of Bitcoin’s circulating supply has reportedly remained untouched during the recent drawdown. Strategy is another major example of this trend. The company holds 840,447 BTC, representing roughly 4% of Bitcoin’s total supply.
Bitcoin’s latest on-chain data is showing early signs of recovery. According to analyst Axel Adler Jr., unrealized losses dropped by around 60% in just ten days.
Realized profits have also moved above realized losses for the first time since late July. This indicates a shift away from the loss-heavy period seen during the recent correction.
However, the improvement remains small. The profit-to-loss ratio is currently around 1.003, meaning profits are only marginally ahead of losses.
The recent period of loss dominance lasted 26 days, far shorter than the 241-day period seen during the 2022–2023 bear market. This shows the latest weakness has not shown the same prolonged capitulation pattern.
What is Bernstein’s Bitcoin price prediction for 2026?
Bernstein expects Bitcoin to reach $125,000 by the end of 2026.
Can Bitcoin reach $150,000?
Bernstein expects BTC to reach around $150,000 by mid-2027, while Glassnode’s MVRV bands currently place the potential cycle peak between $134,000 and $180,000.
Can Bitcoin reach $300,000?
Bernstein expects a potential $300,000 cycle peak in 2029, with a $500,000 bull-case scenario.
Can Bitcoin reach $1 million?
Bernstein projects $1 million by 2033. Several major Bitcoin bulls have also discussed seven-figure valuations, although these remain long-term scenarios.
What is the realistic Bitcoin target right now?
Based on current on-chain data, $100,000–$125,000 appears to be a reasonable near-term target, while $134,000–$180,000 represents a more aggressive potential cycle range.
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