Bernstein expects a "long and exhausting bull run" for cryptocurrency markets until 2027. Bernstein analysts predict that the rise of cryptocurrencies will continue for several more years, forecasting what they describe as a "long bull market for cryptocurrencies, continuing to rise until 2026 and possibly peaking in 2027."

The team, led by Gautam Choghani, noted that previous forecasts had indicated Bitcoin reaching its peak in 2025 or early 2026, but political support under the Trump administration extended the cycle.

"We believe we are in the midst of a digital asset revolution supported by regulatory reform," they wrote in a note on Tuesday.

Bitcoin is now expected to reach the peak of its cycle at $200,000 in the next 6-12 months, with flows expanding to include Ethereum, Solana, and other leading tokens.

Choghani also highlighted the investment implications of publicly listed stocks associated with cryptocurrencies. Coinbase (NASDAQ:COIN), Robinhood (NASDAQ:HOOD), and Circle Internet Group (NYSE:CRCL) all carry "outperform" ratings, with high price targets of $510, $160, and $230, respectively.

Analysts see Coinbase benefiting from a wider range of trading products, including perpetual futures and options, while "Robinhood's diversified business model in stocks, cryptocurrencies, and financial services makes it more predictable." #StrategyBTCPurchase