Bitcoin (BTC) is predicted to reach a price of $250,000 after its next block subsidy halving, according to BitQuant, a popular social media commentator. BitQuant, also known as the pseudonymous “central banker and Bitcoiner,” has set a pre-halving target above $69,000. He believes that Bitcoin will not reach its price top before the halving, but will instead achieve a new all-time high. The halving, which occurs every four years and cuts miner rewards earned per block by 50%, is expected to have a positive impact on BTC price performance. BitQuant goes even further, stating that Bitcoin will surpass its current record set in 2021 and reach $250,000 per coin after the next halving cycle begins in 2024.
Bitcoin traders have differing opinions on the price action leading up to and following the halving. While some believe that higher levels are possible by April, others remain more conservative. Jesse Myers, a Bitcoin investor and author, dismisses the idea of BTC/USD trading at six figures before the halving. Filbfilb, co-founder of trading suite DecenTrader, predicts a pre-halving BTC price ceiling of $46,000. As of September 15, Bitcoin is trading at around $26,400, showing a 1.3% increase in September.
It is important to note that this article does not provide investment advice or recommendations. Readers should conduct their own research before making any investment or trading decisions.
– BitQuant on Twitter: https://cointelegraph.com/news/bitcoin-price-prediction-all-time-high-precede-2024-halving
– CoinTelegraph: https://cointelegraph.com/news/bitcoin-price-prediction-all-time-high-precede-2024-halving
– CoinGlass: https://cointelegraph.com/news/bitcoin-price-prediction-all-time-high-precede-2024-halving
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