Berenberg’s bullish outlook on MicroStrategy is based on the expectation that bitcoin will repeat its previous pattern of gains before and after the next halving event, the investment bank said in a research report on Monday.
The German bank has a buy rating on MicroStrategy shares with a price target of $430. MicroStrategy shares closed 7% higher at $407.71 on Monday.If the pattern established by the first three halving events is repeated, then the “pre-halving rally” should begin in around four months from now, the report said. If a rally happens after the fourth halving, then it could continue until around October 2025.
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