No Guarantee of Bitcoin Price Growing after Halving, Warns ING Economist

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Bitcoin’s quadrennial supply cut event does not guarantee to boost its price, warned Carlo Cocuzzo, a Digital Finance Economist at ING.The veteran said that traders wrongly compare bitcoin with fiat currencies, stating the cryptocurrency is not even a currency.He partially agreed with Bitcoin’s store-of-value narrative but doubted it would prove bullish.For many Bitcoin enthusiasts, “halving” has set the cryptocurrency on the course of hitting the $100,000-mark. But a digital finance veteran disagrees with the euphoria.ING Economist Carlo Cocuzzo said in a podcast interview Thursday that bitcoin’s quadrennial event does not guarantee a big upside move. He cited the cryptocurrency’s limited supply cap of 21 million tokens as the barrier standing between it and its higher price targets.

Via: https://www.newsbtc.com

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