Bitcoin Halving is the most awaited moment in the crypto space because it brings a narrative that pushes almost every cryptocurrencies price up.
In this scenario, most people expect the trend of the BTC price after halving to stay the same as previous halvings, where the price goes up during one year or two before it comes down again, calling it the bull and bear market cycle.
Thile this might be true, most people still don’t really know how much the price is going to rise. In this article we will see the expectations on the Bitcoin price increase based on the previous Bitcoin Halvings.
Expected BTC Price Movement After The Fourth Halving
Taking a look at previous halvings, it can be seen that usually after the halving happens, the BTC Price movement is positive, meaning it goes up in value significantly.
Looking at the three previous halvings, the fourth one might have a different movement in the sense that patterns show the price gain will be less than previous halvings.
During the first halving, Bitcoin price rose 3,836.32% for about a year or 395 days to be exact, according to the data from Tradingview.
The price increase also happened in the next halving, but the percentage is cut down by half, because in the second halving, the price of Bitcoin increased lower than the previous one, which is at around 2,992.07% but it happened during a longer period of time which is around 549 days.
In the third halving, the price increase was also cut down by half, as BTC price increased lower than the second halving at about 1010.78% for about 579 days.
The pattern indicates that the price increase of Bitcoin might also be lower after the 2024 Halving, where the price increase might only take Bitcoin up at about 500% to 600% reaching the $100,000 mark of Bitcoin’s price.
Predictions from Experts
The market seems to not agree with this hypothesis because most predict that it will go higher, basing it off the current innovations that are higher than the condition on previous halvings, and the prediction of experts.
Most experts agree that Bitcoin will reach $100,000 or higher after the 2024 Bitcoin Halving which has led investors to believe the same thing.
High Expectations
Michael Saylor, the CEO of MicroStrategy, a software company that hedges its finances with Bitcoin, predicts that BTC will reach $350,000 after the 2024 Halving.
Anthony Scaramucci, the Founder of Sky Bridge Capital, a well known venture capital supporting most crypto projects in the crypto space, predicts that Bitcoin could go to $170,000 even to $400,000 after the next halving.
The statement was echoed by Mike Novogratz and Tim Draper, who are both well respected investors and businessmen in the financial space, where they predict that Bitcoin will go up to $500,000 and $250,000 respectfully.
Highest prediction still goes to Anthony Pompliano who is a respected investor and a crypto podcast host that predicts Bitcoin will go to $500,000 or $1,000,000, but without specifying when it was going to happen.
Low Expectations
The most comprehensible prediction still goes to Standard Chartered which predicts that Bitcoin could go to $100,000 or $120,000 after the Bitcoin Halving in 2024.
This prediction is one that is most acceptable by crypto investors as it does not create too much of a FOMO and will not lead investors to have a significant expectation towards Bitcoin’s price.
Conclusion
Overall there are currently a lot of predictions and expectations around Bitcoin after the Halving of 2024.
Even though anything could happen, it is good to have a plan ready so that when the movement comes, investors can capitalize on it and not be dragged into greed which usually leads to them having nothing or not maximizing their profit.
It is good to have a detachment with the hopes and dreams of Bitcoin halving, so when investors feel there is enough profit to be taken, they will not let it go, hence leaving the bull market with more money.
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