that much bitcoin price It may have fallen below its all-time high in early 2021 after hitting record levels of nearly $74,000 last week, but some analysts are still bullish on the leading cryptocurrency.
The largest digital coin by market capitalization is expected to reach $90,000 by the end of this year, global investment firm AllianceBernstein said in a note Thursday.
Bitcoin last week Silver market capitalization flipped over However, the price has since fallen and it is currently trading at $66,536.
“Given the overall bull market conditions, including strong ETF inflows, low miner leverage and robust network transaction fees, the impact of the halving on miners appears to be relatively minor as dollar returns ease,” Bernstein analysts Gautam Chhugani and Mahika Sapra wrote on Thursday. “He said.
Bitcoin bisectorCurrently scheduled for April 20th, this is a quadrennial event where miner rewards are permanently halved. Miners, individuals or organizations that issue new digital coins, earn Bitcoin to keep the network running. Every four years the payments are cut, making the cryptocurrency more scarce.
This is the second time this month that researchers have made optimistic predictions for cryptocurrencies. Last week, the company’s analysts predicted Assets are expected to reach $150,000 by 2025 due to huge demand for new permits. Bitcoin exchange traded fund (ETF) spot in America.
“We are now more confident about Bitcoin’s $150,000 price,” analysts Gautam Chhugani and Mahika Sapra said at the time.
U.S. Securities and Exchange Commission (SEC) Approved After a decade of trying by well-known companies, 11 spot Bitcoin ETFs were launched in January. Products traded on the stock exchange include: Experienced a large influx As investors interested in the asset buy ETF shares.
Bernstein analysts argue that the popularity of ETFs is a bullish sign for Bitcoin.
Analysts also said buying Bitcoin mining stocks would also benefit investors seeking exposure to the cryptocurrency market, noting that Riot and CleanSpark will be the top miners after the halving.
Editor: Andrew Hayward
