Bitcoin Slides Nearly 50% From $126,000 High, but Bernstein Reaffirms $150,000 Target
Bitcoin’s correction from its all-time highs has caused anxiety for many short-term traders, but institutional analysts still have strong long-term confidence. Research firm Bernstein has reaffirmed its bullish stance on Bitcoin by forecasting a target of $150,000 by 2026, even though BTC has corrected around 50% from its all-time high.
On Monday, analysts led by Gautam Chhugani in a note to investors described the current downtrend as the “weakest bear case” has seen.
Bernstein’s analysts believe that the current sell-off is primarily due to a lack of investor confidence rather than any structural damage to the crypto ecosystem.
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