Fundstrat predicts an increase in the price of bitcoin even before the halving to $180,000
Date: 2023-07-26 Author: Karina Ziganova Categories: BLOCKCHAIN, IN WORLD
Analysts note that the current demand for bitcoins is about $ 25 million per day and approximately corresponds to the size of the miners' reward. In the case of the release of cryptocurrency ETFs, the demand for bitcoins will increase by $ 100 million and reach $ 125 million.
The price of bitcoin will have to rise so that there is a balance between supply and demand. The results of the analysis of economic equilibrium indicate that the clearing price [providing the equilibrium of supply and demand] of bitcoin will be before halving from $ 1 40,000 to $180,000,” said Fundstrat representatives.
Bitcoin is currently worth $29,228, which means that the coin will have to go up by 379% to reach $140,000. After halving the reward for adding blocks, the earnings of miners will significantly decrease, therefore, after halving, it is worth expecting a further increase in the price of BTC.
The main question is whether the US authorities will approve the issuance of bitcoin-ETF in the foreseeable future. The head of the department of digital assets of Fundstrat, Sean Farpell, estimates the probability of this event at 75%.
