Institutional acceptance increases: Rally at Bitcoin awaited before the fourth halving

Institutional acceptance increases: Rally at Bitcoin awaited before the fourth halving

Bitcoin ETFs have to hurry up, because the decision period ends on March 19, 2024. This emerges from a current tweet of the analyst wants to. In addition, an estimate for the Bitcoin half of the Bitcoin on April 16, 2024 is mentioned. This information could be of great interest to investors.

According to a note published by Berenberg, a rally of the Bitcoin price could begin in about four months before halving. This assessment is based on historical patterns, which were already observed in the previous three Bitcoin half. Interestingly, the price of Bitcoin has increased by at least 682 % in these cycles.

A look at the past shows that the price of Bitcoin was around $ 12 at the time of the first halving in 2012. Within 367 days, the price reached its highest level of $ 1,164. This enormous increase in value arouses the interest of many investors.

However, the report indicates that the Bitcoin offer is predetermined, but the overall demand for Bitcoin must be estimated before a future rally can be predicted. However, the study emphasizes that Bitcoin's institutional acceptance increases. This is confirmed by the recent increase in Spot-Bitcoin ETF applications of some great asset managers.

The CEO of Blackrock, Larry Fink, commented on July 5 Pro Bitcoin, which is also seen as a positive development for cryptocurrency. All of these factors could help to develop Bitcoin strong upward dynamics in the coming months.

The analysts Mark Palmer, Matthew Laflash and Hassan Saleem wrote the research report. The report also refers to the current price of the shares of Microstrategy and Bitcoin. Microstrategy's shares have risen by almost 180 % since the beginning of 2023, while the Bitcoin price has increased by 84 % since the beginning of the year.

It remains to be seen whether the rally predicted in the study actually arrives before the Bitcoin threw. However, the information from the study could be of great interest for investors, especially for those who consider Bitcoin ETFs.

source:
https://twitter.com/wclementeii/status/1413421053929142788
https://twitter.com/wclementeii/status/1413421053929142788