June 19, 2024

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

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

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

In favor of their conclusions about the possible growth of the market value of the first cryptocurrency by capitalization, Berenberg analysts citethe fact that Bitcoin (BTC) has become virtually the only digital asset that the U.S. Securities and Exchange Commission (SEC) has characterized as a commodity rather than a security. 

Thus, possible restrictions by the SEC and the provisions of the U.S. Securities Act will not beIn addition, Berenberg experts expecta significant increase in the value of bitcoin after the 2024 halving.

"Historically, bitcoin halving has been associated with a significant increase in the price of the asset.We believe that the next event is no different from the previous one and mayserve as a catalyst for the growth of the value of the asset," Berenberg Bank believes.

Currently, the market value of military-technical cooperation varies bylevel of $29,300. The market capitalization of the asset exceeded $567 billion. Over the past 24 hours, the BTC rate has increased by 0.03%. Compared to the same period last week, the price of military-technical cooperation rose by 7.52%.

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

Previously, 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.