Analyst at a major asset management company, Pantera Capitalbelieve that the price of Bitcoin could reach $149,000, possibly not until after the next halving in 2025.
Pantera Capital: The next BTC halving is predicted to occur on April 20, 2024. On average, the market peaks after he 1.3 years. If history were to repeat itself, the next halving would see Bitcoin rise to $36,000 pre-halving and $149,000 post-halving. https://t.co/VdAqkv3Jy2 pic.twitter.com/ezNdIKu1Fn
Wu Blockchain (@WuBlockchain) November 23, 2022
The next halving is scheduled for April 20, 2024, and the mining reward will be halved from 6.25 BTC per block to 3.125 BTC per block.
Every four years, the “block reward” halving is called “halving”. This process will repeat until his 2140, when Bitcoin reaches his 21 million fixed supply.
Analysts at Pantera Capital believe that if the demand for new bitcoins remains constant and the supply of new bitcoins is cut in half, the price could rise. In addition, the demand for Bitcoin is increasing as the price of Bitcoin is expected to rise before the halving.
Based on precedent, Pantera has a typical bottom formation 1 year and 3 months before the halving, and on average the market peaks after 1.3 years.
According to Pantera, if history were to repeat itself, Bitcoin’s price would most likely bottom out on Dec. 30, 2022, begin its rally in early 2024, and post a strong rally after the actual halving event. may continue.
Bitcoin historically bottomed out 477 days before the halving, rallied towards the event, and then went up. If this repeats, the next halving could see Bitcoin rise to $36,000 before the halving and $149,000 afterward.
higher expectations
prominent venture capitalist Tim Draper He reiterated his prediction that the price of Bitcoin could hit the $250,000 level and even surpass it.
Draper has repeatedly predicted that BTC could hit $250,000 by the end of 2023.
Bitcoin is trading at $16,555, a moderate gain of 5% after an earlier drop brought on by FTX contagion fears.