A lot of speculation and analysis on the possible price movement of BTC in response to the anticipated halving event. Bitcoin halving is one of the most important events on Bitcoin’s blockchain. It occurs when the reward for mining Bitcoin transactions is cut in half, thereby serving as a deflationary mechanism to checkmate BTC supply and ensure it remains relevant and scarce in the crypto space. The next halving is expected to occur in April or May 2024 when the block reward will fall to 3.125 bitcoins. Analysts are divided on the price of BTC prior to and after the 2024 halving event. Some are optimistic while some are pessimistic.
Considering BTC price before halving and years after halving some analysts have predicted BTC to hit above its current ATH of $69k before the halving while some think that this halving will be different and BTC won’t surpass its previous ATH as seen before halving. Taking this into consideration let’s see the previous BTC trend before and after the halving.
2012
Price $182
After a year = $510
2016
Price = $661
After a year = $2,600
2020
Price = $4,000
After a year = 69,000
Notice that BTC consecutively retest and sets a new ATH to the previous halving event to justify some optimistic analyst like BitQuant view that BTC will not reach its peak before the halving but will hit a new ATH before the event next year. On the other hand, some pessimistic views believe BTC will not reach a new ATH until 2025 citing regulatory issues as a hindrance. What is your view concerning the BTC price?
Bitcoin price all-time high will precede 2024 halving — New prediction (cointelegraph.com)