Analyst Bernstein recommends positioning in crypto-related stocks during the 2026 market correction

On January 6, analyst Gautam Chhugani from Bernstein stated that after a strong performance in 2025, the crypto industry still has medium- to long-term upside potential in 2026. He recommends investors to position in crypto-related stocks during market corrections in 2026. In 2025, Bitcoin experienced a roughly 6% pullback in the weak fourth quarter, but crypto-related stocks on average rose 59%. Outlook for 2026: Tokenization will become the dominant “super cycle.” Bitcoin has completed its bottoming process, with a target price of $150,000 in 2026, and the cycle high in 2027 is expected to reach $200,000. Stablecoin supply is projected to grow 56%, reaching $420 billion, mainly driven by payments and fintech involving companies like Block, Revolut, and PayPal. The total value locked (TVL) in RWA tokenization is expected to increase from $37 billion to $80 billion, with tokenized equity share rising from 2% to 16%. Banks may launch their own tokenization projects. Market trading volume is forecasted to double to $70 billion, with annual revenue around $1.4 billion. Supported by the US midterm elections, related platforms (Kalshi, Robinhood, CEX) are expected to receive more regulatory support. Recommended targets: Tokenization and infrastructure: HOOD, COIN, FIGR, CRCL Bitcoin exposure: MSTRAI Related to computing power: IREN