Dogecoin and Chainlink Crypto: Berenberg Capital’s Take on Bitcoin Halving

The Impact of Bitcoin Halving on MicroStrategy

The upcoming Bitcoin (BTC) halving is expected to have a positive effect on stocks related to Bitcoin, such as Michael Saylor’s tech firm MicroStrategy. New York-based investment firm Berenberg Capital Markets has given MicroStrategy (MSTR) a $430 price target, citing the 152,333 Bitcoin that the company held on its books as of June 28 as the primary reason for their bullish outlook.

The Bitcoin halving, which is scheduled for April 26, 2024, will reduce the issuance rate of BTC by 50%, significantly decreasing the velocity of new Bitcoin entering the crypto market. This could cause a surge in the price of MicroStrategy’s shares, as well as those of other crypto-related stocks such as Shiba Inu, Web 3.0 Explained, Tectonic Crypto Today, Voyager Crypto Latest, Web 3.0 Stocks, Crypto Dogecoin, BTT Crypto, Chainlink Crypto, Crypto Mining, and CRO Crypto.

Crypto Prices Could Surge After Fourth Halving

A recent note from Berenberg Bank suggested that the fourth Bitcoin halving could see the price of Bitcoin surge as it has in the past. According to the note, the pre-halving rally could begin about four months from now.

Previous halvings have seen Bitcoin’s price increase by a minimum of 682%. At the time of the first Bitcoin halving in November 2012, its price was around $12. One year later, it had peaked at $1,164.

The analysts noted that while Bitcoin’s supply is on a predetermined path, the overall demand for the crypto asset needs to be gauged to determine the potential magnitude of any future rally.

The recent note from Berenberg Bank has some crypto enthusiasts speculating that crypto prices, such as Dogecoin, Chainlink, and BTT, could surge after the fourth halving. Crypto mining is also likely to be affected by the halving event.

Crypto Gains Popularity Among Institutional Investors

Evidence of institutional adoption of Bitcoin is on the rise, as evidenced by the recent surge in applications for spot Bitcoin ETFs from some of the world’s “largest and highest-profile” asset managers. BlackRock CEO Larry Fink’s pro-Bitcoin remarks on July 5 further bolstered the crypto market, with equity analyst Mark Palmer and associates Matthew Laflash and Hassan Saleem writing a research report on the matter.

The increasing demand for crypto has been reflected in the prices of MicroStrategy and Bitcoin. MicroStrategy shares are currently trading for $408, having gained nearly 180% since the beginning of 2023. Meanwhile, the price of Bitcoin has increased 84% since the start of the year.

The market for crypto, such as Shiba Inu, Dogecoin, Chainlink, and BTT, has been further fueled by the introduction of Web 3.0, which has been gaining popularity among investors. As the crypto industry continues to evolve, investors will be keeping a close eye on the latest developments in the Voyager Crypto and Tectonic Crypto markets.