Wall Street Giant Bernstein Predicts Bitcoin Price To Hit $1 Million By 2033

Overview

Wall Street research firm Bernstein has confirmed its long-standing prediction that Bitcoin will reach a price of $1 million by 2033. The firm has made significant adjustments to its projections regarding the timing and specifics of how Bitcoin will achieve this target, reflecting a shift in its understanding of market dynamics.

Bernstein’s Revised Bitcoin Projections

In a recent update, Bernstein reiterated its $1 million Bitcoin price target for 2033, while also revising its short- to mid-term expectations. The revisions were influenced by insights shared by Matthew Sigel, head of digital assets research at VanEck, who highlighted a new Bernstein note on social media platform X.

The analysts at Bernstein observed that the recent market correction has disrupted the traditional four-year cycle that Bitcoin has previously followed. They argue that the market is now in a prolonged bull cycle, characterized by a significant amount of institutional buying, which is effectively counteracting retail panic selling. Despite a notable correction in Bitcoin’s price, Bernstein reported that net outflows from Bitcoin exchange-traded funds (ETFs) have remained minimal, indicating a resilient institutional presence in the market.

Bernstein has adjusted its price targets, moving its 2026 estimate for Bitcoin to $150,000, with a potential peak in 2027 at $200,000. However, the firm has maintained its ambitious long-term target of approximately $1 million for 2033. This update signifies a departure from Bernstein’s earlier cycle roadmap, which anticipated a cycle high of around $200,000 by 2025, driven by strong inflows from U.S. spot ETFs.

The firm initially projected that ETF demand would enhance the classic post-halving boom-and-bust pattern of Bitcoin’s price movements. However, the reality of market performance has prompted Bernstein to reassess its timeline. The market reached highs in the mid-$120,000s instead of the previously expected $200,000 range, followed by a significant price decline of about 30%.

The key factor in Bernstein’s revised outlook is the behavior observed during the recent correction. Despite the substantial price drop, the firm noted that spot Bitcoin ETFs experienced only around 5% in net outflows. This observation suggests to Bernstein that institutional investors are demonstrating a more stable presence, counteracting the typical retail capitulation seen in past market cycles.

From author

Bernstein’s updated analysis reflects a significant evolution in its understanding of Bitcoin’s market dynamics. The firm appears to be acknowledging the impact of institutional investment and the role of ETFs in shaping price movements. By adjusting its timeline while keeping the long-term target intact, Bernstein is adapting to the current market realities while maintaining its bullish stance on Bitcoin.

Impact on the crypto market

• Bernstein’s reaffirmation of a $1 million Bitcoin price target by 2033 could bolster investor confidence in the long-term potential of Bitcoin.
• The shift towards a longer bull cycle may encourage more institutional investors to enter the market, potentially stabilizing prices.
• Minimal outflows from Bitcoin ETFs during market corrections indicate a growing base of institutional support, which could lead to increased price resilience.
• The revised price targets may influence market sentiment and trading strategies among both retail and institutional investors.
• The acknowledgment of a changing market landscape suggests that traditional financial institutions are increasingly recognizing the importance of Bitcoin and digital assets in their investment portfolios.