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Crypto Exchange Listings and Delistings: Week 17

Bloomberg Intelligence Report Suggests Bitcoin’s Next Halving Could Propel BTC Beyond $50,000 Mark

According to a report by Bloomberg Intelligence, the upcoming Bitcoin (BTC) halving event could trigger a rally that sends the cryptocurrency soaring past the $50,000 mark within the next year. The report suggests that the recent surge in the Bitcoin market may be the beginning of a larger bull market for the leading digital asset. Bitcoin has already experienced a 66% increase in value since the start of the year and is currently consolidating just below the $28,000 mark. However, if the predictions in the Bloomberg Intelligence report come true, an additional rally of 80% or more could be on the horizon.

The reward that is paid out to miners for mining a new block will then be cut in half from 6.25 BTC to 3.125 BTC.

Experts predict new highs

According to a Bloomberg Intelligence report, the Bitcoin price could surge past $50,000 over the next 12 months as the effects of the upcoming ‘halving’ event take hold. While Bitcoin has already seen a 66% increase in value since the beginning of the year, the report suggests that this could just be the start of a larger bull market. Bloomberg Intelligence analyst Jamie Douglas Coutts predicts a price of $50,000 by the time of the halving, noting that the market has only priced in about 50% of the event’s impact. However, Jacob Joseph, an analyst at CCData, cautions that investors should expect to spend around a year in an “accumulation” phase before prices break out to the upside. He also warns that Bitcoin’s past performance may not be an accurate guide for future cycles, given the changing market landscape and increased competition from other digital assets.

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