Bitcoin Halving Triggers Price Surge Bets: Will BTC Hit $100,000?

Bitcoin, the world’s largest cryptocurrency, marked a significant milestone on Friday evening as it completed its fourth halving. Despite some ups and downs, Bitcoin held steady at around $64,100 before this important event. However, with the halving now complete, many experts are predicting a bullish surge for Bitcoin shortly.

Here’s what you can expect in the days to come!

Understanding the Bitcoin Halving

Every four years, Bitcoin goes through a halving, a big event that cuts miners’ rewards from 6.25 BTC to 3.125 BTC per block. This move is to keep inflation in check and maintain Bitcoin’s rarity, which is key to its value.

While the halving itself might not cause an immediate price jump, looking back in history suggests good things for Bitcoin’s future. After the halvings in 2012, 2016, and 2020, Bitcoin’s value shot up about 93 times, 30 times, and 8 times, respectively, from halving day to peak cycle.

Also Read: Bitcoin Halving 2024: Is the Rally Over? Analyst Debate Post-Halving BTC Price Outlook

A Glimpse into Bitcoin’s Potential

Renowned crypto analyst Rizzo points out an interesting trend: after each halving, Bitcoin tends to add a zero to its value, showcasing significant growth.

For instance, in 2012, Bitcoin was priced at $10 during its first halving, while subsequent events in 2016 and 2020 saw BTC trading at $650 and $8,800, respectively. 

With Bitcoin currently hovering around $64,042, there’s growing anticipation that it could surpass $100,000 by the time of the next halving event in 2028.

Check Out: Crypto Market Watch: How Will the Bitcoin Halving Event Impact Prices?

Bitcoin Predictions: Hearing from the Experts

Several prominent figures in the crypto space have weighed in with their predictions for Bitcoin’s post-halving trajectory. Notable names such as Thomas Lee of Fundstrat, Mark Yusko of Morgan Creek Capital Management, and financial institutions like Standard Chartered and Bernstein have all projected substantial price gains for Bitcoin. Predictions range from Bitcoin reaching $150,000 by year-end to hitting $200,000 in the current bull cycle. 

Even renowned financial author Robert Kiyosaki and Galaxy Digital CEO Michael Novogratz have expressed confidence in Bitcoin’s potential, with price targets of $100,000 and beyond.