Alliance Bernstein Analysts’ Perspective on Bitcoin’s Post-Halving Outlook

Alliance Bernstein, a prominent global asset management firm, is expressing optimism regarding Bitcoin’s prospects following the upcoming halving event.

Analysts Gautam Chhugani and Mahika Sapra have outlined a scenario where Bitcoin’s trajectory is expected to turn bullish once again. They foresee this shift occurring after the mining hash rates adjust post-halving and ETF inflows resume. Importantly, they stress that the halving event alone does not guarantee automatic price appreciation. Instead, they argue that sustained growth in Bitcoin’s value relies on the emergence of new demand catalysts.

While historical trends suggest that price surges often follow halving events, the most recent cycle saw significant price appreciation even before the halving, largely fueled by ETF approvals. Nevertheless, the analysts caution against the possibility of a substantial price correction, which could potentially trigger a more pronounced reduction in network hash rate. However, they assess the likelihood of such an occurrence as low, given the continuing structural demand for ETFs.

Clever Robot News Desk 18^th April 2024