Buy Bitcoin Miners Ahead of the Halving, Bernstein Says

The apprehension among miners is high just before the upcoming halving event, and it’s recommended that investors consider purchasing top-rated stocks like Riot Platforms (RIOT) and CleanSpark (CLSK), according to a research report released by Bernstein on Wednesday. These companies are expected to be recognized for their outstanding performance in execution and leadership in self-mining hashrate by the market.

Historically, the price of bitcoin has tended to increase following a halving event, and often this price rise occurs several months after the halving takes place, according to analysts Gautam Chhugani and Mahika Sapra.

In the 2024 Bitcoin market cycle so far, the approvals of exchange-traded funds (ETFs) in January significantly boosted the price before the halving event. The authors pointed out that bitcoin experienced a decrease of up to 15% over the past ten days due to reduced ETF investments following these slower inflows.

After the Bitcoin halving, the broker believes that the upward trend for Bitcoin’s price will restart. Mining reward reductions will need to be absorbed by the miners first, while ETF investments are expected to pick up again.

In simpler terms, Bernstein predicts that the introduction of bitcoin spot ETFs by major banks and financial advisors will boost the demand for bitcoin. According to Bernstein, we anticipate that bitcoin’s price will reach a peak of $150,000 by 2025.

Read more: Bitcoin Miner CEOs Are Upbeat Ahead of the Halving, Expect M&A: Bernstein