Bittime - Analysts from brokerage firm Bernstein issued a research report on Wednesday (19/4) recommending investors to buy shares of Bitcoin mining companies, Riot Platforms (RIOT) and CleanSpark (CLSK), before the halving event.
Bitcoin Price Expected to Rise Again After Halving
The report states that the upward trend in Bitcoin prices is expected to continue after the halving, when the mining hashrate has adjusted to lower rewards and ETF (Exchange Traded Fund) inflows return. Bernstein maintains this cycle's top price forecast at $150,000 in 2025.
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Miners' Fear Reaches Peak
According to Bernstein, the “miner fear factor” is at its peak ahead of the imminent halving. Investors are advised to buy shares of Riot Platforms and CleanSpark that have “outperform” ratings as the market will reward these companies for their superior performance and market leadership in self-mining hashrate.
Why Are Miner Stocks More Attractive?
The report notes that shares of mining companies continue to underperform Bitcoin (BTC) year-to-date. The halving raised concerns over the profitability of mining companies after their rewards were cut by 50%. The halving, an event that occurs every four years, slows the growth rate of Bitcoin supply and is expected to occur around April 19-20. Hashrate refers to the total combined computing power used to mine and process transactions on a proof-of-work blockchain.
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History as a Pattern
Analysts Gautam Chhugani and Mahika Sapra wrote, "Historically, Bitcoin price increases have always occurred after a halving event and sometimes months after. However, in the current 2024 cycle, the January exchange-traded fund (ETF) approval led to a strong price increase before the halving." The report's authors also note that Bitcoin prices have fallen as much as 15% in just the last 10 days, following slowing ETF inflows.
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The Future is Bright for Bitcoin
The brokerage firm expects Bitcoin's upward price trend to resume after the halving, once mining hashrate adjusts to lower rewards and ETF inflows resume.
"The launch of physical Bitcoin ETFs by large brokerage firms and registered investment advisors (RIAs) will continue to provide structural demand for Bitcoin," Bernstein said. "We continue to expect Bitcoin to reach this cycle's high of $150,000 in 2025."
How To Buy Crypto With Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Bitcoin : SEC Green Signal For Bitcoin Spot ETF
Hashdex Bitcoin ETF: Adds to the Line of Spot Bitcoin ETFs in the United States
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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