Bernstein says bitcoin has likely bottomed, reveals price targets
Sam Boughedda
Tue, January 6, 2026 at 9:22 AM EST
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Investing.com -- Bitcoin may have already found its floor, according to Bernstein, which argues that digital asset markets are set to recover as a broader tokenization cycle builds momentum.
In a note on Tuesday, Bernstein analyst Gautam Chhugani stated that the firm still “feel[s] good about Bitcoin despite the weak sentiment in Q4.”
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He added: “We believe with reasonable confidence that Bitcoin and broader digital asset markets have bottomed.”
The firm noted bitcoin ended 2025 down 6 percent, while crypto equities delivered an average return of about 59 percent despite a late-year cooldown.
Bernstein expects 2026 to be defined by what it calls a “tokenization supercycle,” spanning stablecoins, capital markets and prediction markets.
Analysts set a bitcoin price forecast of $150,000 for 2026 and a $200,000 peak target for 2027, citing the continued expansion of stablecoin payments and the rise of tokenized real-world assets.
Chhugani projects total stablecoin supply to grow 56 percent year over year to $420 billion, driven by “crypto markets, cross-border B2B payments… and agentic payments.”
Bernstein also anticipates a sharp rise in tokenized assets, expecting value locked on blockchains to climb from about $37 billion in 2025 to roughly $80 billion in 2026, with equity tokenization increasing its share of activity.
The analyst sees crypto-focused firms HOOD, COIN, FIGR and CRCL as “the best tokenization proxies” in its coverage, and said “MSTR premium returns as Bitcoin recovers.”
Prediction markets could double to $70 billion in 2026, Bernstein said, adding that platforms may gain further legitimacy as federal regulators provide clearer support.
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