With Bitcoin (BTC) prices experiencing a significant recovery this week, analysts are increasingly optimistic about the potential for further rallies. Notably, Gautam Chhugani from Bernstein has declared that the bottom for Bitcoin has already been reached at $80,000, signaling a promising outlook for the digital asset.

In a recent note, Chhugani and his team expressed “reasonable confidence” that both Bitcoin and the broader digital asset markets have found their bottom. 

Concerns that the recent October peak, which surpassed $126,000, represented the absolute height of a historical four-year cycle for BTC are viewed as exaggerated by Bernstein. The firm underscores an ongoing “digital assets revolution” that is likely to prolong the current bull market.

“We believe the market’s apprehension towards the four-year cycle pattern is unfounded given the current market context,” the analysts noted, highlighting that institutional demand is a significant driver of adoption in the digital asset space. 

Considering the momentum, Bernstein has revised its forecasts, projecting that Bitcoin will achieve $150,000 by 2026 and reach $200,000 by 2027.

Market expert MartyParty has echoed these predictions, asserting that Bitcoin and other blue-chip cryptocurrencies are influenced heavily by liquidity, which is controlled by the Federal Reserve (Fed) and the Treasury. 

MartyParty noted that every BTC peak has historically coincided with quantitative easing (QE), while each bottom aligns with quantitative tightening (QT). 

With the Fed ending its QT phase on December 1 after starting it in the wake of COVID-19 in 2022, and with QE kicking off on January 1, 2026, he believes that a new bull market has commenced.

Featured image from DALL-E, chart from TradingView.com 

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