Bitcoin

April

<p>Bitcoin, the flagship cryptocurrency, has not yet reached the stratospheric highs predicted, but could very well get there following the much-anticipated halving event (reward reduction). According to optimistic projections by Alliance Bernstein, a global investment firm, Bitcoin’s price is likely to climb up to $90,000 post-halving slated for April.</p>
<h2 id="h-the-road-to-90-000-after-the-halving">The Road to $90,000 After the Halving&nbsp;&nbsp;</h2>
<p>While Bitcoin has not yet breached the symbolic $90,000 mark, Alliance Bernstein predicts this milestone could be reached following the highly anticipated halving event. In a note published on March 21st, analysts Gautam Chhugani and Mahika Sapra stated: “Given the overall bullish market conditions with strong ETF inflows, low miner leverage, and robust on-chain transaction fees this cycle, the halving’s impact appears relatively mild on the miners, with softening dollar revenues.”</p>
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<p>The halving, set to occur on April 20th, is a quadrennial event during which Bitcoin miner rewards are permanently slashed by half. This programmed supply adjustment is expected to make Bitcoin even rarer and, as a result, more valuable according to many experts.</p>
<h2 id="h-the-insatiable-appetite-for-bitcoin-etfs">The Insatiable Appetite for Bitcoin ETFs</h2>
<p>One of the primary catalysts for this <a href="https://www.coindesk.com/fr/business/2024/03/21/bitcoin-year-end-price-target-raised-to-90k-at-bernstein/" target="_blank" rel="noopener noreferrer nofollow">price surge</a> is the eagerly awaited approval of 11 spot Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC) in January. These exchange-traded funds, which allow investors to buy shares that track the underlying price of Bitcoin, have taken off stunningly, registering record inflows week after week.</p>
<p>According to data from CoinShares, a European fund manager specializing in digital assets, a new high was reached last week with $2.9 billion flowing into crypto funds, the vast majority of it pouring into Bitcoin ETFs. In the previous week, investors had put $2.7 billion into funds offering exposure to digital assets.</p>
<p>As the Bitcoin halving draws near, the excitement around <a href="https://www.cointribune.com/en/bitcoin-is-bouncing-back-to-66000-the-bull-run-is-not-over-yet/" target="_blank" rel="noopener noreferrer nofollow">the leading crypto</a> only intensifies. With bullish forecasts from major players in the investment industry like Alliance Bernstein, and a massive influx of capital into the recently approved Bitcoin ETFs, Bitcoin appears to be well on its way to reaching breathtaking new heights.</p>

Bitcoin Aims for $90,000 After Halving According to Bernstein

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