The crypto bull market is expected to continue through 2027, according to new insights from top financial firm Bernstein. This extended forecast presents major upside for key industry players including Robinhood (HOOD), Coinbase (COIN), and Circle (CRCL).

Bernstein’s Updated Outlook on the Crypto Market

Bernstein analysts now believe the next peak of the ongoing crypto bull cycle could arrive in 2027, rather than the previously anticipated 2025–2026 window. The firm’s optimistic forecast hinges on broader momentum across digital assets and growing demand for diversified crypto services.

The brokerage firm raised its price target for Robinhood from $105 to $160. Robinhood shares were trading near $115 at the time of the report’s release.

Why Robinhood, Coinbase, and Circle Stand to Benefit

Bernstein’s report identifies Coinbase as a critical beneficiary of the extended uptrend. Analysts expect Bitcoin to surge to $150,000–$200,000 within a year. However, the broader rally is expected to include Ethereum (ETH), Solana (SOL), and decentralized finance (DeFi) tokens—asset classes where Coinbase has strong market presence.

Falling interest rates projected for late 2025 could further accelerate demand for staking and yield products found on-chain. Bernstein notes that treasury strategies built on Ethereum and Solana could replicate MicroStrategy’s (MSTR) Bitcoin strategy, with the added benefit of generating yield.

Projection: Trading Activity Will Peak in 2027

Robinhood and Coinbase are already witnessing increased user engagement and trading activity. According to Bernstein, volumes could continue to expand throughout 2026 before peaking in 2027. Another driver is the rapid growth in supply of USD Coin (USDC), Circle’s stablecoin, which is forecasted to hit $173 billion by 2027.

Coinbase is expanding in derivatives markets, while Circle is gaining adoption thanks to the rising use of USDC in DeFi applications and on-chain treasury management. These two growth engines reinforce Bernstein’s bullish stance on both firms.

Robinhood’s Strong Growth Trajectory

The firm’s diversified revenue model supports an estimated 53% compound annual growth rate (CAGR) in earnings per share (EPS) through 2027. According to the report, this growth justifies the higher valuation multiple now assigned to Robinhood.

Bernstein analysts, led by Gautam Chhugani, see the company benefiting not just from crypto, but also from a wider range of fintech solutions that appeal to its increasingly active user base.

Related: XRP Price: $12M Max Pain for Bears

Read more: Coinbase Is Becoming a Major Ethereum-Focused Player, Bernstein Says