The general cryptocurrency correction that began last week following the release of the US PPI data is still ongoing.
While it is a matter of curiosity whether the bull market is in danger after the correction, Bernstein analysts said that the bull rally could last until 2027.
Bernstein analysts said the crypto bull market could extend into 2027 thanks to US policy support and growing institutional adoption, The Block reported.
Analysts stated that major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) are expected to lead the upcoming bull market.
Analysts also stated that Bitcoin will reach $150,000-200,000 within a year, and that the next phase, which will begin after BTC reaches its peak, will be led by Ethereum, Solana and DeFi tokens.
“The bullish outlook for the cryptocurrency market is expected to be supported by the US government’s pro-crypto stance and institutional adoption. The bull market is expected to continue and reach its peak by 2027. We predict that Bitcoin could reach $150,000 to $200,000 next year. Alongside BTC, Ethereum (ETH) and Solana (SOL) are expected to lead the next bull market.”
The report also offered target prices for cryptocurrency-related companies.
At this point, Bernstein raised his targets to $510 for Coinbase, $160 for Robinhood, and $230 for Circle, citing July volumes and product expansion.
“Robinhood’s cryptocurrency trading volume in July reached $16.8 billion, up 110% from the previous month. Coinbase’s trading volume in July surpassed $100 billion, boosting its earnings return by 44% compared to the previous quarter’s average,” the analysts wrote.
*This is not investment advice.