Bernstein Report: Bitcoin’s current correction provides opportunity to buy on dips ahead of halving
ChainCatcher news, according to The Block, Wall Street investment bank Bernstein analysts Gautam Chhugani and Mahika Sapra wrote in a report to clients on Tuesday: “We believe that Bitcoin’s current consolidation phase is temporary. and provides a dip-buying opportunity ahead of the Bitcoin halving. We continue to believe that there is a cross-cycle 18-month opportunity for Bitcoin and the entire crypto ecosystem. Expect the market to correct before the halving and then The overall bull market is expected to continue."
“ETF flows are reflexive – higher on the upside and slower on weaker price action,” the analyst noted. However, as Bitcoin’s price action has historically consolidated ahead of halvings , and given the rise it experienced prior to the Bitcoin Spot ETF approval and following massive net inflows since its launch on January 11, the recent price action is not surprising. “This pullback appears to be healthy and does not impact our cross-cyclical view that Bitcoin will reach a cycle high of $150,000 in 2025,” the analysts wrote.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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