Bernstein predicts that Bitcoin could reach a new high of $150,000 by the end of the year

Gate News reports that Bernstein Company issued a report to investors on March 24th stating that despite ongoing conflicts in the Middle East, Bitcoin is still expected to reach $150,000 by the end of 2026, setting a new all-time high. The report notes that Bitcoin has performed resiliently compared to other assets, supported by Michael Saylor’s strategy and continued buying by other large long-term holders, providing a foundation for significant price increases in the coming months.

The report shows that Bitcoin has bottomed out and rebounded, with the current market structure remaining solid. Although oil prices have risen about 30% since the Iran attack on February 28th and global financial markets are affected by inflation and geopolitical risks, Bitcoin has still increased nearly 8% since the conflict began, outperforming gold and the US stock market. Long-term holders remain stable, holding 60% of the total supply, indicating market confidence remains intact despite volatility.

Bernstein lists three main bullish reasons. First, Michael Saylor’s strategy continues to increase Bitcoin holdings, even as other treasury companies face market pressures, they maintain buying activity. Second, the size of Bitcoin exchange-traded funds (ETFs) has grown by $2.2 billion over the past four weeks, with institutional investors like pension funds and sovereign wealth funds continuing to increase their allocations. Third, existing long-term holders have not sold, demonstrating that Bitcoin’s ownership structure is unique, with long-term investors viewing it as a store of value rather than a short-term speculative tool.

Historically, Bernstein has made optimistic predictions about Bitcoin’s price multiple times, but these have not always been fully realized. In December, when Bitcoin fell below $63,000, Bernstein adjusted its end-of-2026 target price to $150,000 and predicted it could reach $200,000 in 2027. Polymarket analysts estimate a 10% chance of Bitcoin reaching $150,000 by year-end and a 25% chance of dropping to $30,000.

The report emphasizes that Bitcoin continues to demonstrate strong resilience amid geopolitical turmoil and market volatility, with support from long-term holders and institutional funds potentially being the key drivers for future price increases.