According to BlockBeats, analysts from research brokerage firm Bernstein have forecasted a 'long and grinding crypto bull market,' reiterating their prediction that Bitcoin will reach $200,000 by the end of 2025 or early 2026.
Led by Gautam Chhugani, the analyst team stated in a report to clients that the current market is driven not only by retail investors but also by institutional adoption. They expressed unprecedented confidence in blockchain and digital assets. This cycle is notably different from previous retail-driven booms due to institutional-led growth, clearer regulations, and government support. Blockchain is building a new internet-native financial system, with the stablecoin market nearing $250 billion and initial applications in cross-border payments. Although there are only about 50 million crypto wallet users, this number is expected to grow rapidly to hundreds of millions as banks and businesses accelerate integration. Real-world assets (RWA) are emerging as the next major trend.
Regarding the bull market's progression, analysts believe Bitcoin will continue to rise as a global hard currency reserve asset. Currently, Bitcoin ETFs manage over $150 billion in assets, with BlackRock's IBIT alone accounting for $84 billion. Alongside companies like MicroStrategy increasing their holdings, this structural allocation trend is expected to propel Bitcoin towards the $200,000 target.
