Will Bitcoin's 7-Month Winning Streak Continue In April? 10x Research Sees Halving As Key
Portfolio Pulse from Murtuza Merchant
Bitcoin (BTC) is on a seven-month winning streak, with the upcoming halving around April 20 potentially fueling further growth. Historically, Bitcoin has performed well in April and the months leading up to a halving. 10x Research suggests MicroStrategy (MSTR) may be overvalued, estimating its fair value at around $1,000 per share, below its current price range of $1,700-$2,000.
April 01, 2024 | 5:37 pm
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POSITIVE IMPACT
Bitcoin's upcoming halving and historical April performance suggest potential for continued price growth.
Bitcoin's historical performance in April and the months leading up to a halving event, combined with its current seven-month winning streak, suggest a positive short-term outlook. However, market volatility and external factors could impact this prediction.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
MicroStrategy may be overvalued according to 10x Research, with a fair value estimate significantly lower than its current price.
10x Research's assessment of MicroStrategy's valuation, based on its aggressive Bitcoin acquisitions, suggests a potential overvaluation at its current price range. This could lead to a short-term negative impact on MSTR's stock price if the market adjusts to this valuation perspective.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80