Btc To Go Higher After Halving Event

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Btc To Go Higher After Halving Event

Btc To Touch $115,000 After Halving Event, Says Crypto Expert

All eyes are now on the BTC, which is expected to go through another halving event this year. If we look back, Bitcoin (BTC) has always shown a price spike after the halving events.

This time, history could repeat itself and send the BTC toward new all-time highs. Amidst this, one crypto expert has come forward with a very bullish target for the BTC. According to him, the BTC will touch $115,000 in 2024 once the halving event is complete.

Btc To Cross $84k In 3 Months

The last halvings were done in 2016 and the year 2020. On average, Bitcoin price jumped by almost 400% during the same year of halving.

After the upcoming halving event, Bitcoin will touch $84145 in a 3-month period. Within a year, the cryptocurrency will touch $361152, making it a new all-time high.

The Bitcoin halving happens once 210K blocks are mined - This mechanism controls the BTC supply and even increases the overall price.

In 2016, a 10.99% increase was seen in the BTC price after three months of the halving. As for 2020, the BTC went up by 32.91%, which suggests that there's a trend. So, if we take the historic performance into account, there's a chance that BTC could go up by 21.95% this time.

According to CoinLedger, it is not a bad idea to be optimistic, but it also urges the need for cautious optimism. This means that the investors also need to do through research before taking any positions in the BTC.

For now, Bitcoin is trading at the $64K level, with eyes set on the upcoming levels at $65K, $68K, $70K, and so on. However, we also need to remember that BTC, along with other coins, is going through a short-term phase of profit-taking and selling.

With the halving event in sight, there's a good chance for the BTC to stage yet another bullish rally. Now that even the institutional investors have joined the BTC trading, it will be interesting to see how the BTC halving in 2024 unfolds.

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