Bitwise Maintains Bold Bitcoin Prediction: $200,000 by 2026
Despite recent market volatility, Bitwise, a leading crypto asset manager, is confidently reaffirming its forecast that Bitcoin will reach $200,000 by 2026. Ryan Rasmussen, Head of Research at Bitwise, explains that the current market downturn is merely a "maturing market shakeout" rather than a fundamental break in Bitcoin's upward trajectory, signaling a significant inflection point is near for the world's largest cryptocurrency.
Navigating Market Choppiness and Institutional Inflows
Rasmussen acknowledges that the introduction of spot Bitcoin ETFs has been a "double-edged sword," bringing deeper market liquidity but also increasing cross-currency volatility. He asserts that Bitcoin, historically a leader in "risk-off" movements, is poised to spearhead the next "upside" rally. Crucially, the composition of Bitcoin buyers is evolving, with wealth managers and financial advisors increasingly integrating the digital asset into client portfolios. This institutional demand, while leading to some short-term choppiness as hedge funds employ basis trades, is expected to temper overall volatility and establish a more stable, long-term demand base.
The Road to $200,000: Long-Term Vision Intact
While conceding that the immediate $200,000 target for this year won't be met, Rasmussen firmly believes Bitcoin will achieve this milestone in 2026. This conviction is rooted in the steady, albeit gradual, institutional adoption. He highlights early indicators like Harvard's endowment participation as proof of this trend. Furthermore, he points to Bitcoin's historical strength in low-rate and risk-on environments, arguing that despite current correlations with equities, these are drifting back to historical lows. The anticipated influx of institutional capital from various sectors—wealth managers, endowments, pensions, corporations, and governments—is expected to create a "systematic imbalance of demand versus supply," ultimately driving Bitcoin to its projected $200,000 valuation.
