Bernstein Sets $150,000 Post-Halving Bitcoin Price Target
The speculations of these analysts underscore the previous opinion shared by Bloomberg Senior ETF Analyst Eric Balchunas.
Bitcoin is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency, since the system works without a central repository or single administrator. It was invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto and released as open-source software in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Below you will find the latest news articles about Bitcoin Price.
The speculations of these analysts underscore the previous opinion shared by Bloomberg Senior ETF Analyst Eric Balchunas.
Blockware Solutions analyst Mitchell Askew believes the upcoming Bitcoin halving event will turn out to be a buy-the-news event.
Bitcoin price recovered quickly after a dip to $61,500 following Fed Chairman Jerome Powell’s comments about keeping interest rates unchanged.
Bitcoin price surged to $67,000 during Asian trading hours, following the approval of spot Bitcoin ETFs in Hong Kong. However, this euphoria was short-lived as rising US Treasury yields impacted market sentiment, pushing BTC back to $62,500.
According to Crypto.com CEO, Bitcoin halving would be a buy-the-rumour, sell-the-news event. In the short term, it could lead to price volatility but would be overall positive in the long term.
During the last week, the nine Bitcoin ETFs saw their lowest weekly inflows at $572 million while GBTC alone registered $767 million in outflows making the net flows negative.
On Monday, the Bitcoin Fear and Greed Index went up from 72 to 74, moving into the Extreme Greed zone. This could mean a drop, but BTC spot ETF market flow data will be very important for figuring out short-term trends.
21,000 Bitcoin options are set to expire having a notional value of $1.5 billion and a put call ratio of 0.62. The max pain point for the expiry currently stands at $69,000.
Kiyosaki, a long-time supporter of BTC, has endorsed Wood’s forecast, expressing his trust in her insights and intelligence.
According to the research, Bitcoin is now responding directly to activities in the US stock market, especially because of spot ETF trading.