The analysts at Bernstein, a research and brokerage firm, have increased their year-end target price for bitcoin to $90,000 from $80,000 due to positive market trends.
The analysts also anticipate that bitcoin’s next halving event in 2024-2025 will have less impact on miners compared to past halvings.
This is due to current favorable market conditions such as increased ETF investments, low leverage among miners, and high network transaction fees.
The next halving is forecasted to occur on April 20, with the reward for miners decreasing from 6.25 BTC to 3.125 BTC per block.
Despite previous post-halving declines in network hashrate, the analysts expect a milder decrease of around 7% this time, as the current bull market is expected to support miners’ financial stability.
