Bernstein: Crypto bull market may continue until 2027, Bitcoin may rise to $200000 within a year Bernstein analysts predict that the cryptocurrency bull market may continue until 2027, surpassing the traditional four-year cycle, driven by accelerated policy support and institutional adoption in the United States. Bitcoin may rise to $150000 to $200000 in the next year, with capital inflows expanding to Ethereum, Solana, and DeFi tokens. Institutions have raised Robinhood's target price to $160 due to a surge in its cryptocurrency trading volume; Set the target price for Coinbase at $510 due to increased trading volume and revenue; Maintaining the Circle target price of $230, it is expected that the supply of USDC will continue to increase. Analysis suggests that US encryption policies will prolong the market cycle and may reach new highs in 2026-2027.