Bernstein Research reaffirmed its optimistic projection for Bitcoin at $150,000 by 2026. According to the analysis, the current drop is just short-term noise, with no systemic failures. Unlike past cycles, today's market has spot ETFs, strong institutional presence, and corporate allocations, changing the structure of the game.
The report dismantles the traditional bear market narrative. There are no exchange collapses or hidden leverage on a massive scale. What exists is normal volatility in a market that is now more mature and institutionalized.
The thesis makes sense within the current context. The risk has not disappeared, but the foundation is stronger than in previous cycles. Corrections may occur, but the structural scenario remains constructive in the medium and long term.
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