Should I buy Bitcoin before halving?
If Bitcoin starts to go on another post-halving rally, this number could spike even more, leading to an even higher Bitcoin price, leading to... you get the idea. This cycle could easily last 12 months or more. So, yes, you should be buying Bitcoin ahead of the halving.
The halving will likely not cause a significant movement in price on the day it happens. Part of the economic impact of the halving has likely already occurred, with investors buying bitcoin in anticipation of the event, and the aftershocks of the halving will continue for months or years afterward, experts say.
Bitcoin, it found, is likely to hit an average peak price of $87,875 in 2024, with some experts predicting it will climb as high as $200,000. On the flip side, the average lowest price Bitcoin could hit by the end of 2024, is seen as $35,734, the report said, with some predicting it will fall as low as $20,000.
The bitcoin price has rallied 50% this year, reaching record highs well ahead of the halving, thanks to inflows into the U.S.-based spot exchange-traded funds (ETFs) and has risen over 130% in six months.
Key points. Bitcoin has plenty of bullish momentum in 2024. The SEC approved the first spot bitcoin ETFs in January 2024. The original crypto is on track for its next halving in April 2024.
“Historically, there is a lot of bitcoin price volatility leading up to and after a halving event,” says Rob Chang, CEO of Gryphon Digital Mining, a privately held bitcoin miner. “However, the price of bitcoin typically ends up significantly higher a few months after.”
And it's this sort of four year cycle that happens. And often, the new bull run, which has begun, starts or begins just before the halving takes place. And after halving a few months later, bitcoin in hits a new all time high. That is the typical cycle.
The bitcoin (BTC) price is likely to weaken after the reward halving, a quadrennial event that slows the rate of growth in bitcoin supply and looks set to occur around April 19-20, Wall Street giant JPMorgan (JPM) said in a research report on Wednesday.
| Year | Minimum Price | Maximum Price |
|---|---|---|
| 2024 | $38,000 | $85,000 |
| 2025 | $50,000 | $102,000 |
| 2026 | $45,000 | $90,000 |
| 2030 | $95,000 | $160,000 |
Our most recent Bitcoin price forecast indicates that its value will increase by 13.68% and reach $71,230 by April 19, 2024.
How many days after bitcoin halving does it hit peak?
These peaks are often reached within a year after a halving, riding the wave of reduced supply and heightened demand, before the natural market correction takes hold due to profit-taking and the cyclical nature of investor sentiment.
Bitcoin Halving Impact
Halving events occur after every 210,000 bitcoins are mined, which takes roughly four years. The price of bitcoin has historically risen in the months after halving events as the creation of new bitcoins slows.
As mining rewards decrease with each halving, the last bitcoin is projected to be mined around the year 2140. At this point, miners will rely solely on transaction fees for validating blocks.
Peter Brandt: $120k — $200k per 1 BTC by September 2025
This significant event led to an update in the forecast for the current bull market cycle, expected to end around August/September 2025. While the initial prediction was a Bitcoin value of $120,000, the revised estimate now ambitiously sets the target at $200,000.
If Bitcoin hits the $1 million price target by Wood in 2030, the $100 investment would turn into $6,070. This represents a gain of 5,970% from now until 2030.
What Could Bitcoin Be Worth in 10 Years? Predictions about prices vary by analyst, with some claiming that prices could rise into the millions. However, it is just as likely that it will be worthless.
Some believe the halving will cause a significant increase in the price of Bitcoin, as the reduced inflation rate will lead to higher demand and a corresponding increase in value. Others argue that the halving is already priced into the market, and the event will not affect the cryptocurrency's price.
Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is believed to own the most bitcoins, with estimates suggesting over 1 million BTC mined in the early days of the network.
March 06, 2024
The halving is expected to slash mining rewards from 6.25 to 3.125 bitcoins, marking a critical juncture that historically has been associated with notable price fluctuations and increased investor interest.
Investors considering the long term should see two halvings over the next five years. The next one will occur sometime in 2028 and reduce mining rewards to 1.5625 Bitcoin. Think of it like this: Bitcoin mining rewards will only be a quarter of what they are today within the next five years.
Will Bitcoin go up in the next 5 years?
Although the specific price of Bitcoin five years from now is impossible to predict, one thing seems almost certain: Its value is poised to increase. As central banks continue to debase the currencies they oversee, Bitcoin's unique properties will become increasingly evident.
Notably, Cathie Wood, CEO of Ark Invest, predicted that Bitcoin could reach an astounding $1.48 million by 2030. Senior analyst Nicholas Sciberras from Collective Shift points out that this prediction reflects widespread surprise at Bitcoin's meteoric rise.
Bitcoin Halving Is Not Bullish
The most recent halving in May 2020, for example, came alongside massive monetary and fiscal stimuli surrounding the Covid shutdowns. “I wouldn't give almost any credit to the halving because I don't think the halving is the big driver,” he said. “It's really the big macro factors.”
For that reason, while current market conditions are favorable for anyone considering buying Bitcoin, it is an asset you should purchase only at your own risk. Because while Bitcoin may have the potential for significant returns, you may also lose most of your investment.
If Wood is correct and Bitcoin reaches $3.8 million, if you invested $1,000 in Bitcoin now, it would be worth $54,280 in 2030. This would result in a compounded annual growth rate (CAGR) of nearly 95%.
