Mark Palmer, Senior Research Analyst at The Benchmark Company, predicts that the Bitcoin price could reach $225,000 by the end of 2026.$BTC
Speaking on Yahoo Finance’s Opening Bid podcast, Palmer noted that fundamental factors such as historical price patterns, Bitcoin halving cycles, and increasing institutional interest support this bullish forecast.
Palmer also touched on the recent rally in Bitcoin and other cryptocurrencies, emphasizing that a more crypto-friendly U.S. administration is behind it. “We’re hearing about new cabinet appointments that are supportive of crypto,” he said, describing previous regulatory stances that hindered the industry as a “sea of change.”
A key determinant of Bitcoin’s price movements, halving cycles are a key factor in Palmer’s prediction. These cycles, in which Bitcoin miners’ rewards are cut in half, have historically led to large price increases. The last halving occurred on April 20, 2024, and Palmer noted the price increases in previous cycles, saying, “This is a reflection of the shift in Bitcoin’s supply and demand dynamics.”
Palmer also noted that the increasing institutional interest in Bitcoin follows a similar path to the adoption of gold ETFs. Palmer, who sees Bitcoin as an asset with no correlation and great upside potential, stated that pension funds including Bitcoin in their portfolios could further grow the sector.
“It makes sense to include Bitcoin in portfolios,” the analyst said. “Just as gold ETFs have become more prevalent, Bitcoin could follow a similar path as it becomes integrated into institutions’ strategies.” While a target of $225,000 by 2026 is a bold prediction, Palmer said he thinks it may be a conservative estimate. “The question is how much institutional participation will increase and how Bitcoin can potentially rise against this positive backdrop.”