Bitcoin is due a trip to nearly $150,000 after its next halving, according to BTC price analysis from Pantera Capital.
Bitcoin is due to hit nearly $150,000 during its next four-year halving cycle, Pantera Capital believes.,” released on Aug. 22, executives at the crypto asset manager doubled down on their bullish BTC price forecasts for 2024 and beyond.Bitcoin price performance depends heavily on its halving cycles, Pantera Capital argues, and with the next due within the coming twelve months, the firm is betting that historical trends will continue.
That same theory suggests that the 2022 bear market bottom marked the current BTC price cycle bottom. Looking forward, by the halving date in April 2024, BTC/USD could be trading at around $35,000 — something that it is still on track to accomplish.“The 2016 halving decreased the supply of new bitcoins only one-third as much as the first. Interestingly, it had exactly one-third the price impact. The 2020 halving reduced the supply of new bitcoins by 43% relative to the previous halving. It had a 23% as big an impact on price,” Pantera stated.
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