Several models have been created to forecast Bitcoin prices based on historical data analysis. One thing remains common amongst all the models out there, Bitcoin price rallied hard after the halving events. Moreover, the supply of Bitcoin from miners is halved as the demand continues to rise significantly. Remember, Bitcoin is already a legal tender in El Salvador and the Central African Republic, with a combined GDP of over $33 billion.
Bitcoin price is exchanging at around $22.3k on Friday, down approximately 5 percent in the past 24 hours. The heightened cryptocurrency regulatory scrutiny, especially from the United States, which controls about 25 percent of global market activities, has increased sell pressure from whales and small retail traders.
Reportedly, Bitcoin and Ethereum’s liquidity has worsened recently compared to the post-FTX collapse. The decline in crypto liquidity leads to heightened volatility as traders scramble to sell and buy on available orders.
Bitcoin Price Post 2024 Halving
The Bitcoin market has been recording a decline in volatility as the valuation rises. For instance, Bitcoin prices climbed faster during the early bull markets compared to the 2021 bull market. On-chain data shows investors have been favoring altcoins in search of higher returns. Nonetheless, the Bitcoin market continues to reign in the cryptocurrency industry, with long-term gains expected to outperform traditional stock equities.
According to a recent analysis made by pseudonymous cryptocurrency analyst Trader Tardigrade, Bitcoin price will hit $50k before the next halving and reach $200k after the event.
“Long-term Bitcoin chart pattern correlated to bitcoin halving. Before the next halving date, estimated in 2024, $BTC will reach $50k for the second top. The $BTC top after the next halving will reach $200k,” the analyst noted.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
- Source: https://coinpedia.org/bitcoin/bitcoin-price-prediction-post-halving-btc-price-to-surge-more-than-200-by-2024/
- 1
- 2021
- 2024
- 7
- 9
- a
- About
- activities
- African
- After
- All
- already
- Altcoins
- amongst
- analysis
- analyst
- and
- approximately
- around
- available
- based
- before
- Billion
- Bitcoin
- Bitcoin halving
- Bitcoin market
- Bitcoin Price
- Bitcoin price prediction
- Bitcoin prices
- BTC
- btc price
- bull
- Bull Market
- buy
- central
- Central African Republic
- Chart
- Climbed
- Collapse
- combined
- Common
- compared
- continues
- controls
- created
- crypto
- Crypto Market
- cryptocurrency
- Cryptocurrency Industry
- data
- data analysis
- Date
- Decline
- Demand
- depth
- down
- downside
- during
- Dylan LeClair
- Early
- El Salvador
- Equities
- especially
- estimated
- Ethereum's
- Even
- Event
- events
- exchanging
- expected
- faster
- Forecast
- Friday
- from
- FTX
- ftx collapse
- Gains
- GDP
- Global
- global market
- halved
- Halving
- halving date
- Hard
- heightened
- higher
- historical
- Hit
- hitting
- HOURS
- HTTPS
- in
- increased
- industry
- instance
- Investors
- Leads
- Legal
- LEGAL TENDER
- levels
- Liquidity
- long-term
- Lows
- made
- Market
- Markets
- Miners
- models
- more
- New
- next
- On-Chain
- on-chain data
- ONE
- orders
- Outperform
- past
- Pattern
- percent
- plato
- Plato Data Intelligence
- PlatoData
- Post
- prediction
- pressure
- price
- Price Prediction
- Prices
- reach
- recent
- recently
- recording
- regulatory
- remains
- remember
- Republic
- retail
- returns
- Rise
- Rises
- Salvador
- Search
- Second
- sell
- Shows
- significantly
- small
- States
- stock
- supply
- surge
- Tender
- The
- thing
- to
- top
- trader
- Traders
- traditional
- true
- United
- United States
- Upside
- Valuation
- Volatility
- whales
- which
- will
- zephyrnet
