Bitcoin Could Hit $300,000 Cycle Peak in 2029, Bernstein Says

Bernstein has kept its long-term Bitcoin forecast at about $1 million by the end of 2033, while setting out a base-case trajectory that puts the cryptocurrency’s cycle peak near $300,000 in 2029.

The firm’s nearer-term projections call for Bitcoin to trade around $125,000 at the end of 2026 before reaching a fresh high of roughly $150,000 by mid-2027.

Bernstein also outlined a more bullish scenario tied to faster institutional inflows driven by currency debasement. Under that case, Bitcoin could climb to $200,000 by mid-2027 and $500,000 in 2029.

The analysts’ revised cycle outlook also fed into their valuation of Strategy. Bernstein lowered its price target for Strategy to $350 from $450, citing its revised Bitcoin outlook and accelerated equity dilution, while retaining an Outperform rating.

Source: The Block