Bitcoin
should challenge post-selective historical models and push towards a record level in the second period, Investment Bank Standard Charterd (Stan) said in a research report on Wednesday.
The price of the cryptocurrency generally drops approximately 18 months after the reduction in half, a quadrennial event which slows down the growth rate of the Bitcoin supply. This time, the structural support of institutional investors is expected to counter such weakness, said Geoff Kendrick, manager of digital asset research at Standard Chartered.
“The cycle in half of the bitcoin is dead,” wrote Kendrick.
The analyst has reiterated his end-of-year Bitcoin price forecast of $ 200,000 and said he expects the largest cryptocurrency to reach around $ 135,000 at the end of the third quarter.
Strong funds negotiated in exchange Bitcoin (ETF) And the renewed cash demand for companies, which combined a total of 245,000 BTC in the second quarter, is considered key engines and should accelerate in the coming months, according to the report.
Macro-Aiguilles include a possible early departure from the president of the Fed, Jerome Powell, and progress on American legislation on Stablescoin, which could both feed more, added the report.
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