According to a new analysis from Bernstein, the recent all-time high for Bitcoin is just the beginning of a sustained rally. The firm projects that the cryptocurrency could surge to $200,000 within the next year, driven by a new era of U.S. crypto adoption and supportive regulatory policies.
Bernstein's digital assets team, led by Gautam Chhugani, cites recent policy tailwinds from the Trump administration as a key driver. These include an executive order allowing cryptocurrencies in 401(k) retirement plans, the creation of a stablecoin framework with the GENIUS Act, and the launch of "Project Crypto" to simplify SEC oversight.
The firm's report indicates that Bitcoin, after recently hitting a new record of $123,500 and then pulling back, is expected to continue its upward momentum through the rest of 2025. Bernstein believes the crypto cycle is still in its early stages and forecasts that BTC will surpass $150,000 on its way to the $200,000 target.
Beyond Bitcoin, Bernstein also anticipates the rally to extend to other major tokens like Ethereum and Solana, citing growing corporate adoption and institutional interest. The firm has also raised price targets for crypto-related stocks like Robinhood and reaffirmed its "Buy" rating on Coinbase, highlighting the broad-based bullish sentiment across the sector.
August 2025, Cryptoniteuae