Analysts at global brokerage firm Bernstein have doubled down on their long-term bullish outlook for Bitcoin, describing the current market pullback as the weakest bear case in the asset’s history and reiterating a $150,000 price target for 2026.
Bitcoin Pullback Seen as Confidence Issue, Not Structural Damage
The recent decline in Bitcoin prices reflects a temporary crisis of investor confidence rather than any fundamental flaw in the network or market structure. Unlike previous downturns, the firm notes there have been no major protocol failures, hidden leverage, large-scale liquidations, or systemic breakdowns triggering the selloff.
ETFs and Corporate Adoption Strengthen the Thesis
The analysts highlighted continued institutional alignment as a key differentiator in this cycle. Factors supporting Bitcoin’s long-term outlook include widespread adoption of spot Bitcoin ETFs, increasing corporate treasury exposure, participation from major asset managers, and a more favorable political and regulatory backdrop in the United States.
Bernstein pushed back on concerns around Bitcoin underperforming gold, stating that Bitcoin still trades as a liquidity-sensitive risk asset rather than a mature safe haven. As financial conditions ease, the firm expects ETF inflows and institutional capital channels to reaccelerate.
AI, Quantum Computing, and Miner Risks
The analysts also dismissed claims that Bitcoin is losing relevance in an AI-driven economy, arguing that blockchain-based financial rails are well suited for autonomous digital agents. On quantum computing, they noted that all critical digital systems face similar long-term risks and will adapt together.
With reduced forced-selling risks and stronger balance sheets across major holders and miners, Bernstein concluded that the current downturn does not threaten Bitcoin’s long-term growth trajectory.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.