While the downtrend in Bitcoin and altcoins has been going on for weeks, some analysts suggest that prices may have already peaked and a new bear market has begun.
But he argued that the current cycle is still in its early stages and Bitcoin has not reached its peak.
No Peak Seen in Bitcoin!
Bernstein analysts told The Block that the peak in BTC has not been reached and the cycle is still in the early stages due to the policies of the US government, which is the most supportive of cryptocurrencies.
Analysts led by Gautam Chhugani have argued that claims that Bitcoin has reached its cycle peak at $100,000 are not true.
Citing institutional inflows and the US Strategic Bitcoin Reserve as key drivers for further growth in BTC, analysts said their expectations of $200,000 for Bitcoin are valid.
However, analysts stated that the $200,000 target for Bitcoin could be extended until 2026 due to macro uncertainty and geopolitical risks.
“We continue to expect an uptrend.
The $100,000 Bitcoin price level is not the peak of the cycle and there are numerous indications that the Bitcoin price could rise even higher.
We expect Bitcoin to reach a $200,000 cycle top towards the end of 2025. However, if 2025 markets remain nervous about macro and Trump tariff risk, we may see a delay in Bitcoin reaching the cycle top.
We could see a Bitcoin bull cycle potentially extending into 2026.”
Analysts also gave Coinbase an outperform rating and set a $310 price target for the stock.
This indicates a 69% upside potential for Coinbase stock.
Analysts added that Coinbase is the largest U.S. crypto exchange with around 66% market share, over $400 billion in assets, and around 10 million active users.
*This is not investment advice.
