As Bitcoin's price has surged by 70% this year, experts on Wall Street are expressing positive outlooks for the cryptocurrency in the second half of the year.

Shamin Ho, the chief strategist at cryptocurrency exchange Bybit, emphasizes that Bitcoin's price in the upcoming months will depend on macroeconomic conditions. Improved market pressure resulting from factors like inflation and economic slowdown is expected to enhance investor sentiment in Bitcoin.

Ho further highlights the significance of the upcoming halving scheduled for April next year, a process that reduces Bitcoin mining rewards by half approximately every four years. This halving is anticipated to contribute to a price rally. Echoing similar sentiments, Jagdeep Sidhu, chairman of blockchain network Syscoin, and Tim Shando, the CCO of cryptocurrency exchange Dexalot, also predict that Bitcoin could reach $60,000 in the third quarter under specific conditions. These conditions include a slowdown in US inflation and the implementation of clearer regulatory measures around digital assets.

Source(KR): SEOUL ECONOMIC TV