Last updated on August 4, 2023 9:05 am
Today we will discuss Reasons why Bitcoin Price will be more than $100,000 before 2025
- Bitcoin is set to top $100,000 by 2025, according to a crypto executive.
- Bitcoin’s next halving occurs in April 2024, and the prior three halving’s resulted in massive rallies before and after the event.
Historical trends say bitcoin is on pace to blow past record highs and hit $100,000 by 2025, according to a blockchain executive.
Joe Kelly, the cofounder and CEO of Unchained on Reasons why Bitcoin Price will be more than $100,000 before 2025
a cryptocurrency financial services firm with $2 billion in assets under management, said bitcoin’s prior three “halving” events — or when the number of bitcoins rewarded to miners gets cut in half — suggest massive upside for the token leading up to and after the next halving in April 2024.
Each of the past three halving’s correlated with new all-time highs hit within 12 months.
“Taking a conservative view,” Kelly wrote in a note Tuesday, “if bitcoin stays around $30K until the halving, even a 12-month post-halving increase of 250% — which, again, is conservative relative to previous halving’s — would price bitcoin at $105K.” This is the Reasons why Bitcoin Price will be more than $100,000 before 2025
The exec pointed out that one year after the 2012, 2016, and 2020 halvings, the price of bitcoin was up 8,069%, 284%, and 559%, respectively.
According to data from the last three halvings, Bitcoin's price tends to hit a bottom when the following halving is about 1 1/2 years away. Data indicates that we may have found a bottom, with the next halving being about 18 months away.
He added that the world’s most biggest crypto by market cap has also experienced sharp rallies leading up halving events, too.
Halving Effect on Bitcoin
In the 12 months before each of the last three halving’s, bitcoin has climbed 385%, 142%, and 17%, respectively.
Fund Strat, meanwhile, published a note to clients at the end of July that said bitcoin could actually hit $180,000 before the next halving, largely on the back of momentum from a potential crypto ETF from BlackRock.
How Bitcoin ETF will affect BTC Prices
This [bitcoin ETF launch] would bring daily demand to $125 million, while daily supply is only $25 million,” Fund strat strategists wrote. “The implied equilibrium price would need to rise so daily supply matches daily demand. Equilibrium analysis suggests that a clearing price is $140,000 to $180,000, before the April 2024 halvening.
Bitcoin’s total supply is capped at 21 million, and each halving brings the blockchain closer to that level. Halving happens every 210,000 blocks mined, or about every four years, with the most recent one occurring May 11, 2020.
Reasons why Bitcoin Price will be more than $100,000 before 2025
Barring surprises, the final halving event should take place in 2140.
Bitcoin Performance in 2023
Bitcoin has surged 77% in 2023, recovering from last year’s 65% sell-off. The rebound has coincided with historic interest rate hikes from the Federal Reserve, as well as a series of bank failures that began with Silicon Valley Bank.
Any easing of monetary policy to come, according to Kelly, could provide a further boost for crypto.
“While past price activity suggests good odds, there is of course no guarantee that the next bitcoin halving will indeed drive an [all-time high],” Kelly said. “Mining rewards are not directly tied to market demand and other macroeconomic factors, including a rising interest rate environment, could deter investors from buying bitcoin.”
When is next bitcoin halving event?
In April 2024
What was effect on Bitcoin price after last three Bitcoin Halving events
In the 12 months before each of the last three halving’s, bitcoin has climbed 385%, 142%, and 17%, respectively.Â
When is Bitcoin final halving event?
The final halving event should take place in 2140
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