Bitcoin price all-time high will precede 2024 halving — New prediction

Bitcoin price all-time high will precede 2024 halving — New prediction

News
nitrobetting

nitrobetting


Bitcoin (BTC) has a $250,000 target for after its next block subsidy halving — but new all-time highs will come sooner.

That is the latest BTC price prediction from BitQuant, the popular social media commentator who sees a rosy future for the largest cryptocurrency.

BitQuant: Pre-halving all-time high will not be BTC price top

In his latest post on X (formerly Twitter) on Sept. 15, the pseudonymous “central banker and Bitcoiner” revealed a pre-halving target above $69,000.

“No, Bitcoin is not going to top before the halving,” he wrote in part of commentary.

“Yes, it’s going to reach a new all-time high before the halving.”

Bitcoin has just over six months before the halving, the event that cuts miner rewards earned per block by 50% every four years.

Analysts argue that the resulting emission restrictions have a cathartic impact on BTC price performance, acting as something of a springboard in advance of Bitcoin seeing new all-time highs.

For BitQuant, however, that alone is not bullish enough. Not only will Bitcoin beat its current record, set in 2021, before next April — it will go on to hit $250,000 per coin after the next halving cycle begins.

“No, BTC is not going to $160K because the magnitude of every pullback is large,” he continued.

“This means it will peak after the halving, in 2024. And yes, the target price is around $250K.”BTC/USD annotated chart. Source: BitQuant/X

Bitcoin traders diverge on halving price picks

As cryptodirectories reported, market participants are highly divided when it comes to how BTC price action will play out into the halving and beyond.

Related: Wen moon? Bitcoin halving cycle hints at Q4 as smart money ‘buys the rumor’

Some agree that higher levels are possible by April, but plenty of conservative voices remain.

Last month, Bitcoin investor and author Jesse Myers dispelled any idea that BTC/USD will be trading at six figures between now and then.

In a subsequent interview with cryptodirectories, meanwhile, Filbfilb, co-founder of trading suite DecenTrader, gave a pre-halving BTC price ceiling of $46,000.

“Assuming no black swan event, around $35,000 by the end of the year and possibly as high as $46,000 some time pre-halving in Q1 2024,” he said.

Bitcoin traded at around $26,400 on Sept. 15, up 1.3% in September so far, per data from monitoring resource CoinGlass.

BTC/USD monthly returns chart (screenshot). Source: CoinGlass

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Binance

Latest Crypto News


Popular Links

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments