Bernstein: Bitcoin has broken the four-year cycle pattern, and this bull market may reach a peak of $200,000 in 2027

Bernstein, a Wall Street institution, pointed out in its latest analysis report: "Given the recent market adjustments, we believe the Bitcoin cycle has broken the four-year pattern (i.e., peaks occurring every four years) and is currently entering an extended bull market cycle, with more resilient institutional buying funds offsetting any panic selling from retail investors. Although Bitcoin has retraced about 30%, we have observed that the outflow of funds through ETFs is less than 5%. Accordingly, we have adjusted our Bitcoin target price for the end of 2026 to $150,000 and expect this cycle's peak could reach $200,000 in 2027. Our long-term target price expectation for Bitcoin (until 2033) remains around $1,000,000."