Bernstein maintains Bitcoin's 2026 target price at $150,000, calling the current market the "weakest bear market in history"

DeepFlowTech · 2026-02-09T11:11:56+00:00

Bernstein reiterates a long-term bullish outlook on Bitcoin, with a target price of $150,000 by the end of 2026. Analysts say that the current pullback reflects a confidence crisis rather than a systemic issue, and the market environment is fundamentally different from previous bear markets. At the same time, analysts believe that Bitcoin is still being traded as a liquidity-sensitive risk asset.

DeepFlowTech

2026-02-09 11:11:56

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Deep Tide TechFlow News, February 9th, according to The Block, Bernstein reiterated a long-term bullish outlook on Bitcoin, maintaining a target price of $150,000 by the end of 2026. Analyst Gautam Chhugani stated that the current Bitcoin correction is the “weakest Bitcoin bear market narrative in history,” reflecting a crisis of confidence rather than systemic issues.

Bernstein pointed out that unlike previous Bitcoin declines, the current cycle has not seen major institutional failures, hidden leverage, or systemic collapses. Instead, factors such as increased institutional adoption, improved spot Bitcoin ETF infrastructure, and greater corporate treasury participation indicate that this market differs fundamentally from past bear markets.

Regarding concerns that Bitcoin has underperformed gold, analysts believe this is because Bitcoin is still primarily traded as a liquidity-sensitive risk asset rather than a mature safe-haven asset. Bernstein also dismissed the quantum computing risk narrative, emphasizing that Bitcoin is not the only system facing such challenges.

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