Digital Assets Weekly
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Portfolio Strategy
In our prior note, we indicated that markets could likely see continued strength leading up into the Bitcoin halvening and that’s what we got this week. While my view has not changed since last week, this week I will offer investors 15 observation ahead of the halving.
The picture is not conclusive, but it paints an on balance positive story. Bitcoin still has room to go before reaching our weighted average 12-month price outlook of $14,350, but there’s a good chance the path there is not straight in my view.
We are still looking for prices to rally up into the halvening and will start to look more critically at the market in the immediate days before and weeks after for any signs of weakness. Based on current market conditions, we would not be surprised to see Bitcoin reach the $10k level before the event, and possibly have some retracement after.
Investors will recall that $10k was the highest probability market outlook scenario we published for Bitcoin back on March 17th after the sell off when prices sat around $5,400. While we’ve gotten here quite quickly:
Market Recommendations: With all of this in mind, our outlook for Bitcoin over the next 12 months and recommende...Unlock this article by joining our Community!
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