Crypto investors have mostly high hopes for BTC in the wake of the quadrennial halving
With cryptocurrencies proving the savior of investors as stocks continue to slide this quarter, investors are keeping a close eye on Bitcoin (BTC-USD) ahead of its highly anticipated halving, coming today, April 19.
So, what is it exactly, and, more importantly, will Bitcoin go up after the April 2024 halving?
Well, the halving refers to the reduction of block subsidy for Bitcion miners from 6.25 BTC to 2.125 BTC, effectively lowering the reward miners gain from mining the flagship crypto.
While this may seem strange and mysterious, it’s actually an inherent and somewhat regular aspect of BTC, one that tends to push prices up rather than the other way around. Indeed, Bitcoin experiences a halving once every four years, and the event typically raises the price of the crypto.
Put simply, the decline in the hashrate pushes some miners off the task, shrinking supply and raising prices.
Worth noting, the post-halving surge may not come immediately following the event. In fact, it can take up to a year and a half for the impact of the halving to be truly felt.
“Price reaction is typically not immediate,” said Rikke Staer, CEO of payments solutions platform Coinify. “Major post-halving growth occurs [after] six and 18 months, and larger price movements become statistically less likely with increasing market size.”
The last halving resulted in a five-fold increase in Bitcion’s price, following its previous pattern. Is that what you should expect this time around?
Will Bitcoin Go Up After the Halving? Here’s 3 Expert Forecasts
Experts have slightly different theories on the end result of the halving, but most agree on one thing: BTC prices are heading up.
Plan B, the creator of the stock-to-flow (S2F) model, believes this Bitcoin halving will follow the historical trend of rising prices.
“[In my opinion] this Bitcoin halving will NOT be different,” the pseudonymous analyst wrote in a post on X earlier this week. “All bitcoin price increase will again be around the halving. Buying 6 [months] before the halving and selling 18 [months] after the halving (green line) will outperform buy [and] hold.BTC[greater than] $100K in 2024.BTCtop [greater than] $300K in 2025.”
SkyBridge Capital founder Anthony Scaramucci also has brow-raising expectations for BTC following the halving. Indeed, in an interview on CNBC Squawk Box, Scaramucci shared that he thinks BTC can surge by more than 200% in the next year and potentially hit $200,000 per coin.
Scaramucci does qualify that he believes a near-term pull back of up to 15% could happen before BTC finds its post-halving stride.
Investment banking giant JPMorgan is one of the few naysayers of the halving. JPM analysts predict BTC will fall as low as $42,000 per coin after the event as they “envisage bitcoin prices drifting towards once bitcoin-halving-induced euphoria subsides after April.” They also believe the Bitcoin halving may be priced into BTC’s current $64,223 price tag per coin.
On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
With degrees in economics and journalism, Shrey Dua leverages his ample experience in media and reporting to contribute well-informed articles covering everything from financial regulation and the electric vehicle industry to the housing market and monetary policy. Shrey’s articles have featured in the likes of Morning Brew, Real Clear Markets, the Downline Podcast, and more.
FAQs
“All bitcoin price increase will again be around the halving. Buying 6 [months] before the halving and selling 18 [months] after the halving (green line) will outperform buy [and] hold. BTC [greater than] $100K in 2024. BTC top [greater than] $300K in 2025.”
Will Bitcoin skyrocket in 2024? ›
Our most recent Bitcoin price forecast indicates that its value will increase by 8.99% and reach $75,691 by June 14, 2024.
What will Bitcoin be worth in April 2024? ›
BTC Price Prediction 2024-2030
| Year | Minimum Price / Maximum Price |
|---|
| 2024 | $82,000 to $85,000 |
| 2025 | $110,000 to $115,000 |
Typically, Bitcoin prices continue to surge for a good few months following a halving month, rising, on average, for seven months.
What is the Bitcoin price prediction for May 2024? ›
A target of $77,000 might be seen this month, and if the bearish factors were less dominant, Bitcoin would surge above $80,000. However, in contrast, the Bitcoin price might fall to a low of $54K if the bearish trend entered the market. Bitcoin had faced issues in April to breach the Fibonacci pivot at $68,200.
What will be the price of Bitcoin in 2024 year? ›
Bitcoin Surpassed Its All-Time High : 2024
As of June 7, 2024, BTC is trading at $71,166 with a market capitalization of $1.40 trillion. The price of the popular cryptocurrency has slid by 3.56% after setting a new record of $73,750, with a market capitalization reaching $1.44 trillion on March 14, 2024.
Which coin will reach $1 in 2024? ›
In the dynamic landscape of cryptocurrency, these ten coins, including TRON, Shiba Inu, Astar, Kaspa, Dogecoin, Stellar, Kava, Polygon, Cronos, and VeChain, present diverse potentials for reaching the $1 milestone in 2024.
Should I invest after Bitcoin halving? ›
With every Bitcoin halving event, everyone is only getting closer to more exciting Bitcoin price movements. However, it is essential to always approach investing with caution and a long-term perspective.
Should I sell or hold Bitcoin? ›
You might want to sell your crypto under some specific circ*mstances. If there is a lack of blockchain development progress or a string of negative news, you might want to sell your cryptocurrency. If you've reached your investing goals or want to reallocate your holding, you might want to sell your cryptocurrency.
What will $1000 of Bitcoin be worth in 2030? ›
If Wood is correct and Bitcoin does reach $3.8 million by 2030, an investment of $1,000 would be worth over $60,000. This would result in a compound annual growth rate (CAGR) of over 100%. Read Next: Bitcoin has jumped another 45% already this year – how much would you need to get started today?
There's a strong likelihood that the bull market will persist, possibly pushing Bitcoin's price to $100,000 by year-end. The market has seen an influx of new investors, both retail and institutional, who are using spot ETFs to enter the market conveniently.
How long after Bitcoin halving does the price go up? ›
The past three halvings – in 2020, 2016 and 2012 – have resulted in an average price increase of 16% over the 60 days that followed, according to data from the asset research firm 10x Research. The 2016 halving resulted in a decrease of 6% over the following 60 days, although it then rallied strongly throughout 2017.
What happens to my Bitcoin after halving? ›
What Happens When Bitcoin Halves? When Bitcoin undergoes a halving, the number of new Bitcoins that are made gets cut in half. Said differently, there's a 50% reduction in the reward miners receive for validating transactions and adding them to the blockchain.
Which crypto will explode in 2024? ›
Our list of the next big crypto coins to explode in 2024 (x100 Bull Run) : EarthMeta ($EMT) – AI-driven Metaverse platform for decentralized governance and digital real estate. Folki ($FOLKI) – Meme coin integrating with the metaverse.
How much will $1 Bitcoin be worth in 2025? ›
Bitcoin (BTC) Price Prediction 2030
| Year | Price |
|---|
| 2025 | $ 70,237.64 |
| 2026 | $ 73,749.52 |
| 2027 | $ 77,437.00 |
| 2030 | $ 89,643.01 |
1 more rowBecause Bitcoin is so powerful and has so much potential, Bitcoin's projected value and estimated growth could be astronomical. Speculation from crypto analysts and industry experts suggests that Bitcoin's long term value could reach over $100,000 to as much as one million dollars per BTC in the future.
What will Bitcoin be worth in 2025? ›
What is the prediction for Bitcoin cash in 2024? ›
Bitcoin Cash Price (BCH/USD)
Bitcoin Cash price stood at $442.82. According to the latest long-term forecast, Bitcoin Cash price will hit $700 by the end of 2024 and then $800 by the middle of 2025. Bitcoin Cash will rise to $1000 within the year of 2026, $1200 in 2028, $1500 in 2030 and $2000 in 2034.
How much will $1000 Bitcoin be worth in 2030? ›
If Wood is correct and Bitcoin does reach $3.8 million by 2030, an investment of $1,000 would be worth over $60,000. This would result in a compound annual growth rate (CAGR) of over 100%. Read Next: Bitcoin has jumped another 45% already this year – how much would you need to get started today?
What will BTC futures be in 2024? ›
Recent Contracts
| Last | Chg |
|---|
| CME Bitcoin (USD) Jun 2024 | $68,650.00 | 775.00 |
| CME Bitcoin (USD) Jul 2024 | $69,200.00 | 790.00 |
| CME Bitcoin (USD) Aug 2024 | $69,885.00 | 800.00 |
| CME Bitcoin (USD) Sep 2024 | $70,445.00 | 805.00 |
6 more rows
