Opinion: The Bitcoin cycle has broken the 4-year pattern, and the cycle peak may reach $200,000.

According to an article published on the X platform by Bernstein, given the recent market correction, the Bitcoin cycle has broken its four-year pattern and is currently in an extended bull market cycle, with more sustained institutional buying offsetting any panic selling by retail investors. Despite a roughly 30% price pullback, outflows through ETFs have been less than 5%. Bernstein has raised his 2026 Bitcoin price target to $150,000, expecting the cycle to peak at $200,000 in 2027. Furthermore, his long-term Bitcoin price target for 2033 remains around $1 million.