2 days ago
Bitcoin (BTC) is acceptable to defy humanities post-halving patterns and propulsion toward an all-time precocious successful the 2nd half, concern slope Standard Chartered (STAN) said successful a probe study Wednesday.
The cryptocurrency's terms typically falls astir 18 months aft the halving, a quadrennial lawsuit that slows the complaint of maturation successful bitcoin supply. This time, structural enactment from organization investors is expected to antagonistic immoderate specified weakness, said Geoff Kendrick, caput of integer assets probe astatine Standard Chartered.
"The bitcoin halving rhythm is dead," Kendrick wrote.
The expert reiterated his year-end bitcoin terms forecast of $200,000, and said helium expects the largest cryptocurrency to emergence to astir $135,000 by the extremity of the 3rd quarter.
Strong inflows from spot bitcoin exchange-traded funds (ETFs) and renewed firm treasury demand, which combined totaled 245,000 BTC successful the 2nd quarter, are seen arsenic cardinal drivers, and are expected to accelerate successful the coming months, the study said.
Macro tailwinds see a imaginable aboriginal departure by Fed Chair Jerome Powell and advancement connected U.S. stablecoin legislation, some of which could substance further upside, the study added.
Read more: U.S. Strategic Bitcoin Reserve Marks Milestone successful Institutional Adoption: Gemini
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