Crypto Blog
Two of America’s largest banks are urging crypto investors to remain cautious around the upcoming Bitcoin halving, which analysts believe may not play out much like prior cycles.
The analyst used the price of gold as a reference point, as both assets share a similar investment thesis as a risk-off store of value and inflation hedge. On a volatility-adjusted basis, the bank argued that Bitcoin’s price should only be $45,000, meaning its current market price is significantly overbought.
This cycle looks even more different: Bitcoin already topped its previous cycle’s all-time high above $69,000 in March, one month before the halving even occurred.
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