Bitcoin Hits $9,900 – BTC Gets Green Light On Wall Street Ahead Of The Halving
Bitcoin managed to surpass the important level of $9,900 the other day, and it’s getting ready to shoot past $10k.
At the moment of writing this article, Bitcoin is trading in the green and the king coin is priced at $9,913.04.
Bitcoin’s halving is just around the corner and crypto enthusiasts are waiting for the event with excitement.
Retail and institutional investors should buy BTC
As the Bitcoin halving approaches there’s one popular Wall Street analyst who said that both retail and institutional investors should buy BTC.
Jefferies’ global head of equity strategy Christopher Wood said that the halving which reduces the rate of new BTC that enters the supply should be sending the value of the coin to the moon, just like it did during the two previous halvings back in2012 and 2016, according to Financial Times.
Bitcoin has unique properties
Wood goes beyond the halving in order to urge his readers to invest in BTC.
He pointed out to the fact that BTC has unique properties including its decentralized nature and fixed supply which make it a solid bet in a time when central banks are endlessly printing fiat money.
Check out the complete notes on Financial Times.
There are all kinds of predictions about the price of BTC these days, especially since we’re ahead of the much-awaited halving event.
The other day, we reported that a crypto whale who often ranks at the top of the Bitfinex leaderboard just said that Bitcoin halving might disappoint traders who are looking to get rich soon.
Joe007 said that BTC is overhyped as the halving approaches. He believes that the halving event which is posied to happen ina few days will turn out disappointing for those who want to get rich overnight.
More analysts are expecting a drop in the price of BTC after the halving as most whales will probably sell.
Other analysts believe that this halving will de a special one considering the global crisis in which we are.
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Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.