The leading commercial company Bitcoin IRA conducted a study according to which Bitcoin has a good chance of a record price rise shortly. Analysts indicated in their report several key factors that are a solid foundation for the Bitcoin rally.
First, Bitcoin halving, which occurred in March 2020, should not be ruled out, and as a result, the reward for generating a new block was reduced from 12.5 BTC to 6.25 BTC. The experience of the previous two Bitcoin halvings has shown that this event is a powerful driver for bulls and stimulates a breakthrough in the price of the flagship cryptocurrency. In particular, as a result of the first halving of 2012, the price of Bitcoin increased by 8,189%.
We can already observe the positive consequences of the third halving: Bitcoin inflation fell to 1.8%, while inflation of other traditional assets remains at 2%.
Investors fuel interest in Bitcoin
Bitcoin price growth is also possible due to an increase in investor interest in the flagship cryptocurrency. Today, due to the projected economic crisis, investors are looking for an alternative to traditional assets with which they can save their capital. The fact that Bitcoin is considered as a hedge asset is evidenced by an increase in the number of transactions between user accounts within the IRA company. Bitcoin IRA CEO Chris Kline commented on this:
“Now we can observe how investors are “probing the ground” to change the vector of their attention from the traditional stock market to the cryptocurrency. This is a very good signal for Bitcoin and the crypto industry as a whole.”
Kline also makes big bets on the held halving. He is convinced that the bulls will win the battle and as a result, the price of Bitcoin will reach a record high of $280,000.
This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose.