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Bernstein: Bitcoin Sell-Off Is Just a "Crisis of Confidence," Year-End Target Price Set at $150,000

Bernstein: Bitcoin Sell-Off Is Just a "Crisis of Confidence," Year-End Target Price Set at $150,000

格隆汇格隆汇2026/02/10 02:15
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Glonghui, February 10th|Bernstein pointed out in a research report that the current trend of bitcoin is merely a "crisis of confidence," not a systemic issue, and there will be no "explosive defaults" emerging. Analyst Gautam Chhugani stated that in an investment environment dominated by artificial intelligence (AI), the appeal of bitcoin and cryptocurrencies has relatively declined, but this has actually made the bearish arguments for bitcoin weaker than ever. He noted that last week, the price of bitcoin adjusted by about 50%, but the outflow from spot ETFs was only about 7%, reflecting that the scale of long-term capital withdrawal is limited. Regarding market concerns that quantum computing may pose a threat to bitcoin's encryption technology, Chhugani believes that such risks are not imminent in the short term, the blockchain ecosystem is capable of adapting, and it has the support of major institutions such as Strategy, BlackRock, and Fidelity. He expects that bitcoin will once again challenge its historical high, and has set a year-end target price of $150,000 per coin.
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