A projection has emerged that the cryptocurrency (virtual asset) bull market will persist until 2027. According to The Block on the 19th (local time), Bernstein stated in a report, "The outlook for the cryptocurrency market is positive, supported by the US government's pro-crypto stance and institutional adoption," adding that "the cryptocurrency bull market is expected to continue and peak by 2027." The report further mentioned, "Bitcoin (BTC) could reach $150,000 to $200,000 within the next year." Furthermore, Bernstein anticipated that other cryptocurrencies will drive future market gains. The report said, "Beyond Bitcoin, Ethereum (ETH) and Solana (SOL) are expected to lead the next bull market." Additionally, the report provided target prices for companies related to cryptocurrencies. Bernstein raised its target price for the cryptocurrency trading platform Robinhood from $105 to $160. The report analyzed, "In July, Robinhood's cryptocurrency trading volume increased by 110% from the previous month to $16.8 billion," and, "Robinhood's acquisition of Bitstamp and the launch of its staking products will be key growth drivers." Target prices for Coinbase and Circle were presented at $510 and $230, respectively. The report stated, "Coinbase's trading volume in July surpassed $100 billion, increasing its earnings yield by 44% compared to the previous quarter's average," and, "If the adoption of the dollar-based stablecoin USDC increases, Coinbase will benefit as well." Regarding Circle, the issuer of USDC, it was evaluated that "the expansion of on-chain payment proportions is a long-term differentiator."
August 19PiCK