Buterin: the growth of the bitcoin price is not related to halving
The co-founder of Ethereum Vitalik Buterin stated that the theory that the growth of the BTC exchange rate was related to halving did not work. The developer attached a chart of the S2F model according to which bitcoin periodically increased its cost together with halving the reward for mining a block. "The last $20k peak was near the halfway point between the 2016 and 2020 halvings", he pointed out. In the comments Buterin was told that the model predicted the quantitative growth of the bitcoin price, but it did not presume that the maximum will coincide exactly with the event of halving. The developer agreed that the absence of the direct correlation between halving and the growth of the bitcoin price did not disprove the theory, but said that he still did not agree with it. The price of Ethereum can rise up to $7,500
If the BTC exchange rate increases up to $50,000, Chris Burniske, a partner in the Placeholder venture capital firm, thinks. "If $BTC goes > $50,000 in the next cycle, and $ETHBTC returns to its former ATH, then expect to see $ETH > $7,500", he wrote in his Twitter account. According to him, the price of bitcoin will rise up to $50,000, even if the volatility of the new rally will be twice as less as the previous indices. In this case, the capitalization of the first cryptocurrency will rise above $1 trillion. It will allow bitcoin to strengthen its "macro equity" status, while ETH will be able to become a mainstream instrument, the expert thinks. The price of bitcoin will go down following the stock market
Analyst Satoshi Flipper thinks. If the US shares continue the correction, the BTC price will fall to $7,300 before the middle of July, he writes. Satoshi Flipper points out that, by going below $9,400, the exchange rate has broken through the trend line that has been acting as a support one since May. The S&P 500 index fell down 2.79% this morning — the crypto market followed it as well, the trader points out. He adds that he has been holding the short position regarding bitcoin since the weekend.