Bitcoin
The historic post-lover is ready to defy the pattern and push up to one all-time higher in the second half, investment bank standard chartered (Stan) Said in a research report on Wednesday.
The price of cryptocurrency usually arrives at about 18 months after being half, a quadrangular phenomenon that slows down the rate of increase in bitcoin supply. This time, the structural support of institutional investors is expected to combat any such weakness, said Geoff Kendrick, head of Digital Assets Research at Standard Chartered.
“Bitcoin Halling Chakra is dead,” Kandrick wrote.
The analyst repeated the forecast of its year’s end bitcoin value of $ 200,000, and said he hoped that the largest cryptocurrency will increase by about $ 135,000 by the end of the third quarter.
Strong flow from spot bitcoin exchange-traded funds (ETF) The report stated that the new corporate treasury demand, which has combined a total of 245,000 BTC in the second quarter, is seen as major drivers, and expected to accelerate the coming months.
Macro tailwinds involves a potentially initial departure by Fed Chair Zerome Powell and progress on the US Stabecrim law, both can find even more reverse fuel, the report states.
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