Berenberg Bank: Bitcoin could rise significantly after next year's halving

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Analysts at Germany's oldest bank, Berenberg Bank, said that the future halving, as well as a combination of circumstances, evolution and time, will become a springboard for the growth in the value of bitcoin.

In favor of their conclusions about the possible growth of the marketthe cost of the first cryptocurrency in terms of capitalization, Berenberg analysts cite the fact that bitcoin (BTC) has become almost the only digital asset that the US Securities and Exchange Commission (SEC) has described as a commodity, and not as a security.

Thus, the possible restrictions on the partThe SEC and the provisions of the US Securities Act will not affect the investment strategy of traders and asset holders. In addition, Berenberg experts expect a significant increase in the value of bitcoin after the 2024 halving.

“Historically, the Bitcoin halvingassociated with a significant increase in the price of the asset. We believe that the next event is no different from the previous one and can serve as a catalyst for an increase in the value of the asset, ”the Berenberg Bank believes.

Now the market value of military-technical cooperation varies bythe level of $29,300. The market capitalization of the asset exceeded $567 billion. Over the past day, the BTC rate has increased by 0.03%. Compared to the same period last week, the cost of military-technical cooperation rose by 7.52%.

Earlier, a popular analyst under the pseudonym PlanB, the creator of the Stock-to-Flow model, told his subscribers that he expects a significant increase in bitcoin after the next halving in 2024.