Bitcoin Price Prediction After Halving: What’s Next? – Coinpedia Fintech News

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Bitcoin Price Prediction After Halving: What’s Next?  – Coinpedia Fintech News

Bitcoin, the world’s largest cryptocurrency, marked a milestone Friday evening by completing its fourth “halving.” Leading up to this event, the price of Bitcoin has been fluctuating, dropping around 4% this week to hover around $64,100. However, with the halving now complete, many experts are predicting a bullish rise in Bitcoin soon.

4th Bitcoin Halving Completed

The Bitcoin halving is a significant event that occurs approximately every four years in the cryptocurrency space. This involves halving miner rewards, from 6.25 BTC to 3.125 BTC per block, to manage inflation and maintain Bitcoin scarcity.

Although the halving itself is not expected to have an immediate impact on the price of Bitcoin, many investors expect significant gains in the coming months. This optimism is based on historical data showing Bitcoin’s remarkable performance after previous halvings.

After the halvings in 2012, 2016, and 2020, the price of Bitcoin jumped approximately 93x, 30x, and 8x, respectively, between the day of the halving and the peak of its cycle.

However, previous Bitcoin halving events have consistently led to significant price appreciation, a trend highlighted by crypto analyst Rizzo. Rizzo notes that after each halving, Bitcoin tends to add a zero to its value, showing substantial growth.

For example, in 2012, Bitcoin’s price was $10 during its first halving, while subsequent events in 2016 and 2020 saw BTC trading at $650 and $8,800, respectively.

While Bitcoin is currently hovering around $64,042, there are growing expectations that it could surpass $100,000 by the time of the next halving event in 2028.

Bullish predictions from experts

Several prominent figures in the crypto world have given their thoughts on Bitcoin’s post-halving trajectory. Notable names such as Thomas Lee of Fundstrat, Mark Yusko of Morgan Creek Capital Management, and financial institutions like Standard Chartered and Bernstein have all predicted substantial price increases for Bitcoin. Predictions range from Bitcoin reaching $150,000 by the end of the year to $200,000 in the current bull cycle.

Even renowned financial author Robert Kiyosaki and Galaxy Digital CEO Michael Novogratz have expressed confidence in Bitcoin’s potential, with price targets of $100,000 and beyond.

As the Bitcoin halving event approaches, anticipation and excitement are running high within the crypto community.

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