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According to Samson Mow, founder of Jan3, Bitcoin could be entering a bull run that may last until 2035, following what might have been a bear market over the last year.
In contrast, other analysts contend that Bitcoin’s (BTC) all-time high of $125,100 reached in October marked the peak of the cycle, suggesting that 2026 could signal the beginning of a new bear market.
Mow stated in an X post on Friday that “2025 was the bear market,” adding that Bitcoin might be on the verge of launching into a “decade long bull run.” He shares this perspective with Bitcoin analyst PlanC, who expressed a similar view: “If you made it through 2025, you made it through the bear market,” PlanC mentioned in an X post on the same day.
Bitcoin may finish the year in negative territory
“Bitcoin has never experienced two consecutive annual declines,” PlanC noted, as the cryptocurrency is on course to conclude the year below its opening price.
As of the time of publication, Bitcoin is down 8.98% since January 1, trading at $87,210, according to CoinMarketCap. The current price is significantly lower than the projections made by BitMEX co-founder Arthur Hayes and BitMine chair Tom Lee, who suggested just last October that Bitcoin could still reach $250,000 by year-end.
Market sentiment has remained near lows for the majority of December.
On Thursday, the sentiment-tracking Crypto Fear & Greed Index dropped three points to a score of 20 out of 100 on December 26, marking a two-week period of “extreme fear” that began on December 13.
Industry opinions are divided regarding Bitcoin’s 2026 outlook
Executives and analysts within the industry are split on Bitcoin’s performance for 2026.
Veteran trader Peter Brandt recently predicted that Bitcoin could plummet to as low as $60,000 by the third quarter of 2026. In contrast, Jurrien Timmer, director of global macroeconomic research at Fidelity, stated that 2026 could be a “year off” for Bitcoin, with prices perhaps dipping to around $65,000.
Nonetheless, not all predictions are pessimistic. Strategy CEO Phong Le recently emphasized that Bitcoin’s market fundamentals have remained robust in 2025, even with the asset’s price and sentiment declining toward the year’s end.
Bitwise chief investment officer Matt Hougan expressed in July that 2026 is expected to be an “up year” for Bitcoin.
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