- Bitcoin’s price dropped sharply from $126,000 in early October to near $82,000 in November, facing resistance at $91,000.
- Bitcoin (BTC) shows mixed recent performance with moderate weekly gains but declines over the past 24 hours, month, and since December 2024.
- Bernstein estimates Bitcoin will set a new all-time high of $150,000 in 2026 and reach $200,000 by 2027.
- Bernstein states that Bitcoin’s typical 4-year price cycle has shifted to a longer bull cycle driven by strong institutional buying.
- Grayscale supports this view, suggesting Bitcoin now follows a 5-year cycle, aiming for a peak in 2026 after the 2021 high.
Bitcoin’s price fell steeply from around $126,000 in early October to near $82,000 in November. The cryptocurrency is currently encountering strong resistance around $91,000. Data from CoinGecko shows Bitcoin (BTC) rose 3.5% in weekly charts and 2.2% over 14 days. However, it declined by 1.5% over the last 24 hours, 11.4% in the last month, and 9.5% since December 2024.
Despite the recent price drop, financial firm Bernstein predicts Bitcoin will reach a new all-time high soon. The company believes Bitcoin has exited its traditional 4-year price cycle and entered an extended bull cycle. Bernstein highlights that increased institutional purchases are helping sustain the market, balancing out retail investor sell-offs. “The asset is now in an elongated bull-cycle, with more sticky institutional buying offsetting any retail panic selling,” stated Bernstein through a post shared by VanEck’s head of digital asset research, Matthew Sigel.
While Bitcoin experienced a roughly 30% correction recently, outflows from Bitcoin ETFs remained below 5%, showing steady institutional interest. Bernstein forecasts Bitcoin will reach $150,000 in 2026 and climb further to $200,000 by 2027. This rise to $200,000 would represent an approximate 122% gain from current price levels.
Additionally, Grayscale published a report suggesting Bitcoin has shifted from a 4-year to a 5-year price cycle. Their thesis expects Bitcoin’s next peak to occur in 2026, five years after the record high seen in 2021.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Zcash Proposes Dynamic Fee Market to Tackle Rising Transaction Costs
- JPMorgan’s Dimon Embraces Blockchain, Shifts Crypto View
- San Jose Widow Loses $1M in Crypto Romance Scam Warned by ChatGPT
- OCC Head: Crypto Banks Should Get Same Federal Charter as Others
- Tether Joins €70M Boost for Italian Humanoid Robot Startup
