"Bitcoin Halving: The Road to $500,000 - Expert Predictions and Market Analysis"
The material is published solely for informational purposes and is not an investment recommendation. ForkLog is not responsible for readers' investment decisions. After the upcoming halving, Bitcoin will become scarcer than gold and real estate, which implies the cryptocurrency reaching a price of around $500,000, according to popular blogger PlanB. Based on his Stock-to-Flow model, the expert suggested that the digital asset's market capitalization may not surpass that of gold, which is over $10 trillion. However, approaching this mark and the emission of 20 million coins will lead to the stated price, PlanB calculated. He did not specify the timeline for reaching this price. Additionally, the expert noted the rise in the 200-week moving average (200WMA). In late January, former BitMEX CEO Arthur Hayes suggested that Bitcoin could drop below $35,000 due to various factors such as Fed policy, military conflicts in the Middle East, and the U.S. presidential elections. Various analysts have different predictions for Bitcoin's price movements. For example, analyst Ali speculated a drop to $32,700 based on previous cryptocurrency cycles, while venture firm Placeholder partner Chris Burniske suggested a range of $30,000-$36,000 with a bottom at $20,000. Founder of MN Trading Consultancy Michaël van de Poppe expects Bitcoin to move towards $48,000 before the halving and reach a new high in the second half of 2024. Crypto analyst CryptoHamster identified a bullish pennant formation on the Bitcoin chart and predicted a potential rise to $45,500 in the near term. According to a survey conducted by PlanB in August 2023, nearly 60% of participants believe in the start of a bull market after the halving. In January, SkyBridge Capital founder Anthony Scaramucci forecasted Bitcoin to reach $170,000 by 2025. Marathon Digital CEO Fred Thiel is confident in the cryptocurrency reaching its peak in Q3-Q4 2024 but expects a pullback to $40,000-$50,000 before rising to a new ATH of $120,000. Fundstrat co-founder Tom Lee has even bolder predictions: $150,000 by the end of 2024 and $500,000 in the next five years. Read the full article
