The market for Bitcoin is expected to remain flat following the halving on April 20, according to analysts Marion Laboure and Cassidy Ainsworth-Grace of Deutsche Bank
Ainsworth and Labor-Due to widespread anticipation of the block reward halving, Grace reasoned that the price of the cryptocurrency had already begun to rise in anticipation of the cut. The consensus among industry watchers is that the value of digital assets will remain relatively stable, neither rising nor falling.
The approval of spot Ethereum-ETFs, along with the central bank’s key rate cut and regulatory changes, are expected to cause high levels of volatility in Bitcoin prices, according to Marion and Cassidy.
According to 10x Research’s head of research, Markus Thielen, the Bitcoin market will remain quiet for four to six months following the reward halving, based on an analogy with the previous halving. That is to say, the lease cannot be terminated before August 20th.
Price changes of bitcoin (white line) following 2020 halving
Nonetheless, Nikolaos Panigirtsoglo, a bank analyst at J.P. Morgan, forecasts that Bitcoin’s price will decline following the halving. He thinks the market is overbought, and that even after accounting for volatility, the price of Bitcoin is still much higher than the price of gold, so the price of the cryptocurrency will drop.