Analysts project Bitcoin will recover to $125,000 by late 2026 and reach $300,000 in 2029 under base-case scenarios.
Bitcoin is forecast to reclaim $125,000 by late 2026 as it approaches its next cycle peak, according to Bernstein. The projection follows a 28% rebound over the past 10 days after a 50% drop from its October 2025 high, signaling a potential end to the current bear cycle.
Bernstein’s base case sees Bitcoin rising to $150,000 by mid-2027 and peaking at $300,000 in 2029. A bull case scenario targets $200,000 by mid-2027 and $500,000 in 2029. The firm maintains a long-term target of $1 million by 2033, citing Bitcoin’s historical four-year cycles.
The report highlights increased institutional participation as a key factor, providing greater downside support and reducing drawdowns compared to previous cycles, which saw declines of 75% to 90%.