TechFlow news, Bernstein analysts have raised their year-end price target for Bitcoin from $80,000 to $90,000, with a projected cycle high of $150,000 between 2024 and 2025.
They also noted that the upcoming halving event will have a smaller impact on miners compared to previous years. Given the overall bull market conditions, strong ETF inflows, low miner leverage, and robust network transaction fees this cycle, the halving's effect on miners appears relatively mild, with dollar revenues buffered.
Analysts expect lower mining downtime this time, with a projected hashrate decline of around 7% (previously 15%), while the bull market also supports stronger balance sheets.
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