After a recent market downturn, Wall Street's biggest Bitcoin bulls are downgrading their short-term forecasts, but their long-term beliefs remain unchanged.

Long-term cryptocurrency supporter Standard Chartered Bank has halved its Bitcoin price prediction due to a collapse in corporate treasury demand and weak ETF inflows. The bank currently expects the original cryptocurrency to rise to $150,000 by the end of 2026, down from a previous forecast of $300,000, and has pushed back the timeline for achieving its long-term target price of $500,000 from 2028 to 2030.

Bernstein analysts also predict that Bitcoin will reach $150,000 by the end of next year and approach $200,000 by the end of 2027. Although the recent downturn has led them to retract their earlier prediction of reaching a peak of $200,000 this year, they still maintain that Bitcoin has escaped its historic four-year cycle pattern, indicating a more sustained growth trajectory.

Bitcoin has dropped nearly 30% from its peak of over $126,000 in October, and institutional buying has reversed.