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By Will Canny, AI Boost|Edited by Stephen Alpher
Aug 19, 2025, 12:40 p.m.
- Bernstein sees the crypto bull market extending into 2027, with bitcoin reaching $150,000–$200,000 in the next year and upside broadening to ether, solana and decentralized finance.
- The broker lifted its Robinhood price target to $160 from $105, while reiterating its outperform rating on the shares.
Wall Street firm Bernstein expects the crypto bull market to run longer than previously thought, potentially peaking in 2027 instead of 2025–26, with outperform-rated Robinhood (HOOD), Coinbase (COIN), and Circle (CRCL) all set to benefit, the broker said in a report Tuesday.
Bernstein raised its Robinhood price target to $160 from $105. The shares were little changed at around $115 at publication time.
STORY CONTINUES BELOW
Analysts led by Gautam Chhugani now see bitcoin hitting $150,000–$200,000 within the next year, but believe the rally will broaden to ether (ETH), solana
and decentralized finance(DeFi)tokens, positioning Coinbase as the key beneficiary.
Falling rates in late 2025 could boost demand for staking and on-chain yield products, while ether and solana-based treasury strategies may echo Strategy’s (MSTR) bitcoin play but with added yield, the analysts wrote.
Bernstein expects trading volumes to surge into 2026 and peak in 2027, citing momentum already visible in Robinhood and Coinbase activity and a surge in USDC supply.
Coinbase’s expansion in derivatives and Circle’s growing USDC adoption, projected to reach $173 billion by 2027, underpin the broker’s bullish view.
Robinhood’s diversified model is expected to deliver a 53% earnings per share (EPS) compound annual growth rate (CAGR) through 2027, supporting its upgraded valuation multiple, the report added.
Read more: Coinbase Is Becoming a Major Ethereum-Focused Player, Bernstein Says
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Will Canny is an experienced market reporter with a demonstrated history of working in the financial services industry. He’s now covering the crypto beat as a finance reporter at CoinDesk. He owns more than $1,000 of SOL.
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.
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What to know:
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