TechFlow News, February 9: According to The Block, Wall Street investment bank Bernstein has reiterated its long-term bullish stance on Bitcoin, maintaining its year-end 2026 price target at $150,000. Analyst Gautam Chhugani stated that the current Bitcoin correction represents “the weakest bearish narrative in Bitcoin’s history,” reflecting a crisis of confidence rather than systemic issues.
Bernstein noted that, unlike previous Bitcoin downturns, this cycle has not seen major institutional failures, hidden leverage, or systemic collapse. Instead, factors such as increased institutional adoption, maturing spot Bitcoin ETF infrastructure, and growing corporate treasury participation indicate that this market cycle is fundamentally different from prior bear markets.
Regarding concerns about Bitcoin underperforming gold, analysts argue this stems from Bitcoin still being traded primarily as a liquidity-sensitive risk asset—not yet as a mature safe-haven asset. Bernstein also dismissed quantum computing risk narratives, emphasizing that Bitcoin is not the only system facing such challenges.
