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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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
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