Bitcoin
is expected to break historical post-halving trends and aim for an all-time high in the latter half of the year, according to a research report by RialCenter.
The price of the cryptocurrency typically declines approximately 18 months following the halving, an event that occurs every four years and reduces the growth rate of Bitcoin supply. This time, structural support from institutional investors is anticipated to mitigate any decline, said Geoff Kendrick, head of digital assets research at RialCenter.
“The Bitcoin halving cycle is dead,” Kendrick noted.
The analyst maintained his year-end Bitcoin price prediction of $200,000, stating he expects the leading cryptocurrency to reach around $135,000 by the end of the third quarter.
Robust inflows from spot Bitcoin exchange-traded funds (ETFs) and renewed demand from corporate treasuries, which added a combined total of 245,000 BTC in the second quarter, are identified as crucial drivers expected to intensify in the upcoming months, the report highlighted.
Additionally, macroeconomic factors such as a potential early exit of Fed Chair Jerome Powell and advancements in U.S. stablecoin legislation could further fuel gains, the report added.
Read more: U.S. Strategic Bitcoin Reserve Marks Milestone in Institutional Adoption
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