Analysts at Bernstein have released a new report on the state of the crypto market, asserting that the current bull market could last for several years, extending into 2027.
Bull Market Prospects
Bernstein's team, led by Gautam Chhugani and Mahika Sapra, anticipates that the current bull market will extend beyond the traditional four-year cycle. The report highlights that factors such as U.S. policy and increasing institutional investments may support digital assets. Analysts project Bitcoin prices could range from $150,000 to $200,000 over the next year.
Key Players in the Crypto Market
Bernstein raised its price targets for several major players, including Robinhood, Coinbase, and Circle. The target for Robinhood's shares was increased from $105 to $160, while Coinbase received a target of $510 due to its 'everything exchange' strategy. In July, the trading volume on Coinbase topped $100 billion, a 44% increase compared to the previous quarter.
Expectations for Stablecoin Growth
The price target for Circle's shares is set at $230. Currently, the supply of USD Coin (USDC) stands at $68 billion, with Bernstein expecting it to rise to $99 billion in 2026 and $173 billion in 2027. This growth will be driven by banking partnerships and payment integrations.
In conclusion, according to Bernstein analysts, while the current market may be temporarily cooling off, growth factors such as institutional investments and positive policy create favorable conditions for the continuation of the bull market until 2027.
