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Wall Street investment companies urge clients to take a closer look at bitcoin ahead of halving

Chris Wood, the head of exchange strategy for the American investment company Jefferies Group, recommends that customers buy bitcoin in anticipation of the upcoming halving.

Wood is the author of Jefferies weekly analytic greed and fear. In a recent appeal to investors, he writes that halving “should increase the upward pressure on the price if demand for bitcoin continues to grow, as it was in 2012 and 2015.”

In addition, Bitcoin can provide the investment portfolio with the necessary diversification, Wood said. “It should also be a source of diversification in the portfolio, like gold, since it has a truly decentralized nature. Supplemented by limited issuance, it makes the cryptocurrency a hedge against manipulated central banks of fiat money, ”the analyst adds.

Another Wall Street firm, Fundstrat Global Advisors, also issued a notice to customers this week in connection with the upcoming halving of Bitcoin. “We maintain a bullish attitude towards the prospects of bitcoin over the next 12 months and expect that the price can continue to rise in anticipation of and after halving,” wrote analyst David Grider.

Less than 9 days are left until the next bitcoin halving. The event takes place every four years and this time will lead to a decrease in block rewards from 12.5 BTC to 6.25 BTC. It is expected that the issue of the effect of halving on the price continues to cause increased interest of market participants. Some analysts believe that the decline in the supply of new bitcoins is already reflected in the price of cryptocurrency. At the same time, Wall Street investment companies admit the possibility of further growth against this background and do not want their clients to miss this opportunity.

Alex Zask

EX Pi

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