July 16, 2024
Bitcoin's price surge! Experts predict a new all-time high before the next halving
Bitcoin News

Bitcoin’s Future: Optimism and Skepticism Amidst Price Uncertainty

The Bitcoin price has a $250,000 target set for after its next block subsidy halving, but experts believe that new all-time highs will occur sooner. BitQuant, a well-known social media commentator, shared this BTC price prediction in a recent post on X (formerly Twitter) on September 15.

According to the pseudonymous central banker and Bitcoiner, the pre-halving target is positioned above $69,000. In his commentary, he emphasized that Bitcoin is not expected to reach its peak before the halving, and it will indeed achieve a new all-time high before this event.

The halving, which occurs every four years and reduces miner rewards per block by 50%, is just over six months away. Analysts contend that the resulting emission restrictions tend to have a positive impact on BTC price performance, acting as a catalyst for new all-time highs.

However, BitQuant is even more optimistic. He believes that Bitcoin will not only surpass its previous record set in 2021 before April but will also reach $250,000 per coin after the next halving cycle begins in 2024.

The market is currently divided on how Bitcoin’s price will behave leading up to the halving and beyond. While some agree that higher price levels are achievable by April, many conservative voices remain skeptical. For instance, Bitcoin investor and author Jesse Myers recently debunked the idea that BTC/USD would be trading at six figures in the near future. On September 15, Bitcoin was trading at approximately $26,400, representing a 1.3% increase in September, according to data from monitoring resource CoinGlass.

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Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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