Bitcoin price prediction after 2024 halving: Will there be a surge?
The Bitcoin halving is predicted to occur in April 2024, which will have a certain impact on the entire crypto market. But the most concerning one is the impact on Bitcoin itself. Bitcoin halving refers to the halving of rewards for mining new blocks. This means that miners receive 50% less Bitcoin when verifying transactions, which will also affect Bitcoin. The trading price of Bitcoin, then how much will one Bitcoin cost when it is halved in 2024? Will Bitcoin skyrocket after the 2024 halving, as predicted by insiders? According to the predictions of analysts in the circle, it is likely to rise. The estimated price increase is to US$50,000. The editor will explain it in detail below.
How much will one Bitcoin halve in 2024?
According to industry analysts’ predictions, the price of Bitcoin after the halving in 2024 will be around US$50,000. However, these are just analyst forecasts and actual conditions may differ. Investors should analyze and judge based on the current market conditions to make more informed investment decisions.
The last Bitcoin halving was on May 11, 2020, when the block reward dropped from 12.5 new BTC to 6.25 new Bitcoin. This supply crunch creates a bullish scenario for Bitcoin. A month before the halving took place, Bitcoin’s price rose from $6,877.62 to $8,821. Despite the high price volatility, Bitcoin continued to rise over the next year until it reached a high of $49,504 on May 11, 2021. This process shows the scarcity of Bitcoin and investors’ recognition of its value, as well as the market’s optimism about its future value-added potential.
It is unclear how the next halving will affect the price of Bitcoin. Many cryptocurrency analysts believe that prices will follow a similar pattern to the previous three halvings, rising after the event as the supply of new coins is limited. Some analysts predict that the Bitcoin halving could spark optimism in the market.
The price increase of Bitcoin will depend on the demand during the halving process. Since the last halving in 2020, the market has matured more and more mature cryptocurrencies have emerged, which may cause demand to remain stable or even decline, so a price increase is not inevitable.
Will Bitcoin surge after the 2024 halving?
The possibility of Bitcoin’s 2024 halving is unlikely to lead to a surge, but it is very likely to lead to higher prices. Halving refers to the mechanism by which Bitcoin mining rewards are halved. Its function is to limit the total supply of Bitcoin to 21 million, which occurs every four years or so. After the past three halvings, Bitcoin prices hit new highs each time. Therefore, while a surge is unlikely, some growth in Bitcoin price can be expected.
According to industry research analyst Jamie Douglas Coutts, about 50% of the Bitcoin halving effect is currently reflected in the price. Coutts predicts that the price of Bitcoin could reach $50,000 by April 2024. He pointed out that Bitcoin’s cycle bottom usually occurs around 12-18 months before halving. Although many changes have occurred in the past, the cycle structure this time looks similar to the past. As powerful as the Bitcoin network is, it has never experienced a prolonged period of severe economic contraction.
The above is the detailed content of Bitcoin price prediction after 2024 halving: Will there be a surge?. For more information, please follow other related articles on the PHP Chinese website!
Hot AI Tools
Undresser.AI Undress
AI-powered app for creating realistic nude photos
AI Clothes Remover
Online AI tool for removing clothes from photos.
Undress AI Tool
Undress images for free
Clothoff.io
AI clothes remover
AI Hentai Generator
Generate AI Hentai for free.
Hot Article
Hot Tools
Notepad++7.3.1
Easy-to-use and free code editor
SublimeText3 Chinese version
Chinese version, very easy to use
Zend Studio 13.0.1
Powerful PHP integrated development environment
Dreamweaver CS6
Visual web development tools
SublimeText3 Mac version
God-level code editing software (SublimeText3)
Hot Topics
1386
52
Analyst: Trump's election may trigger global inflation again, which may not necessarily be beneficial to Bitcoin
Jul 19, 2024 am 02:20 AM
This site (120btc.coM): The U.S. presidential election has entered the last four months, and the battle between former U.S. President Donald Trump and current U.S. President Joe Biden, representing the Republican Party, is heating up. But since Trump was shot last weekend, his support and exposure have soared rapidly in the community. Because of his pro-cryptocurrency stance, it has also stimulated the rise of Bitcoin, betting that Trump's victory will create a regulatory environment conducive to the growth of cryptocurrency. Analyst: Trump’s election may once again trigger global inflation. In addition to Trump possibly providing a friendly regulatory environment for cryptocurrencies, another possibility that the market generally believes will boost the sharp rise of cryptocurrencies is: the Federal Reserve is maintaining long time
U.S. Senator Cynthia Lummis proposes: Let the United States buy 1 million Bitcoins
Jul 29, 2024 am 07:04 AM
This site (120BtC.coM): Republican Senator Cynthia Lummis of Wyoming, who has long supported the development of cryptocurrency, did not disappoint her supporters. She announced the latest legal proposal she is about to promote at Bitcoin 2024, the U.S. Bitcoin Conference, this morning (28): Let the U.S. Treasury Department buy 1 million Bitcoins within 5 years! One million Bitcoins, if converted using the current market price at the time of writing, is approximately US$68 billion. Cynthia Lummis stated that the main reason for listing BTC as a national reserve is to “offset the impact of the depreciation of the U.S. dollar.” Cynthia Lummis said: Bitcoin is a rapidly growing reserve of value. In the past four years, it has grown by about 55% per year. At the same time, the U.S. dollar has grown by about 55%.
SOL rises another 9 times? GSR Markets: Solana expected to outperform Bitcoin after launching spot ETF
Jun 29, 2024 am 07:07 AM
This site (120Btc.coM) After asset management giant VanEck applied for Solana ETF to the US SEC yesterday (27th), cryptocurrency market maker GSRMarkets issued a report on the same day, bluntly stating that Solana has high potential to become the next digital asset spot ETF. The agency said: With other companies owning or about to launch ETFs, it may not only be a matter of time before Solana also obtains a spot ETF, but the impact on SOL may be the largest yet. Possibility Analysis of SolanaETF GSRMarkets believes that the two key factors that determine the next digital asset spot ETF are "degree of decentralization" and "potential demand", so digital assets will be based on these two factors.
Bitcoin Power Law Indicator Prediction: The rise will accelerate in the coming months! It is expected to increase by 4 times by the end of 2025
Jul 16, 2024 pm 05:27 PM
This site (120bTC.coM): Mt.Gox, once the world’s largest Bitcoin exchange, started repayment in July. In addition, the German and American governments have also recently transferred large amounts of Bitcoin to exchanges. The two are considered to be the most recent The two major factors that have dragged down the price of the crypto market have many analysts with different opinions on what the price trend of Bitcoin will be in the second half of 2024 and in the future. Recently, anonymous engineer Apsk32 analyzed the latest Bitcoin (BTC) price on the Gradually climb up within the support zone. End of 2025: Price expected to rise 4x Apsk32 points out that the price of Bitcoin seems to follow a certain weekly trend.
Bitcoin holds on to $65,000! Bernstein: Large institutions are expected to enter the market in the second half of the year
Jun 20, 2024 pm 12:33 PM
After Bitcoin hit a high of $65,722 at noon yesterday (19th), it started to fluctuate and fall again. It reached a low of $64,666 at around 4 o'clock this morning (20th) before starting to rebound. The current price of Bitcoin is $65,109 at the time of writing, holding on to its energy. Stand firm at the 65,000 level. On the other hand, the buying performance of the U.S. Bitcoin Spot ETF was also poor. According to Sosovalue data, as of June 18, it was the fourth consecutive day of net outflows. Bernstein, a well-known Wall Street investment bank, also pointed out in a report on Tuesday (18) that with the release of the earlier 13F institutional position report, analysts believe that the funds for Bitcoin spot ETFs still mainly come from retail investors and institutional investors. It only accounts for 22% of the overall share. and
Is Bitcoin unable to rise? Nansen: The market has priced in two Fed rate cuts in 2024
Jun 10, 2024 pm 01:56 PM
This site (120btC.coM): Yesterday (31st) night, the inflation indicator that the US Federal Reserve (Fed) paid attention to - the personal consumption expenditures price index (PCE) was released. The data showed that the overall PCE rose by 0.3% in April, an annual increase of 0.3%. 2.7%, both unchanged from the previous month. In addition, core PCE increased by 0.2% monthly in April, which was lower than the 0.3% monthly increase in March and was also in line with expectations. Although the annual growth rate of 2.8% has remained unchanged for three consecutive months, slightly higher than the expected 2.7%, it shows that inflation has not continued to worsen. After the data came out, the four major U.S. stock indexes were mixed. The Dow Jones and S&P 500 indexes rose by 1.51% and 0.8% respectively, while the Nasdaq and Philadelphia Semiconductor Index fell by 0.01% and 0.96% respectively. Nansen points
NewStreet downgrades Nvidia! Analyst: The price has risen too fast and there is no room left! Will it crash Bitcoin?
Jul 12, 2024 pm 05:55 PM
This site (120BtC.coM): Amid the AI craze, the stock price of Nvidia, led by Jen-Hsun Huang, has soared by more than 161.22% this year, and its market value has exceeded US$3.1 trillion. It once overtook Apple and Microsoft and became the world's largest company by market value. It also led to the outstanding performance of the Taiwan stock market. The Taiwan Weighted Index hit a new high of 23,556.59 points this week, and TSMC exceeded the thousand-dollar mark. NewStreet lowered NVIDIA's rating. But on this occasion, NewStreet Research analyst Pierre Ferragu downgraded NVIDIA's rating from "buy" to "neutral." Ferragu said the stock is up nearly 240% in 2023 and soaring this year.
Trump confirmed to attend Tennessee Bitcoin Summit at the end of the month! Will deliver a 30-minute speech
Jul 16, 2024 am 10:04 AM
This site (120bTC.coM): US presidential candidate Trump has confirmed that he will attend the Bitcoin Conference (TheBitcoinConference2024) to be held at the end of the month. Industry insiders believe that this may be one of the major events that promotes the development of the encryption industry. The "mysterious guest" of the Bitcoin Summit is confirmed to be Trump. The Bitcoin Summit will be held in Tennessee, USA, from July 25 to 27. The summit speaker revealed to foreign media CoinDesk on the 10th that in order to make time for a "Very special guests" whose speeches have been rescheduled have sparked speculation that Trump will attend the summit. The organizers of the conference later announced that Trump would speak for 30 minutes on the last day of the summit, July 27.