ANALYSTS PLACE BITCOIN’S PRICE AT $170K AFTER BTC HALVING
Anthony Scaramucci, founder of Skybridge Capital, predicts Bitcoin will reach $170,000 in 18 months after the April halving of new Bitcoin supply.
Anthony Scaramucci puts it across as “The day that Bitcoin halves, multiply it by four and 18 months later and it’s been uncanny that that’s been the price of Bitcoin.”
Bitcoin’s last halving happened on May 11, 2020, when the commodity closed at $9,670, according to Yahoo Finance. Almost exactly 18 months later, the asset reached its current all-time high of $69,000.
As Bitcoin enthusiasts eagerly await the next halving event, analysts have been fervently crunching numbers and delving into historical trends to formulate predictions on where the crypto giant’s price might be headed. Their findings have given rise to bold projections, with some industry experts placing BTC’s price at an impressive $170,000 post the upcoming halving.
Bitcoin halving is around the corner
With BTC’s next halving event just months away, there is hope that the crypto coin will soar to new heights. Skybridge Capital founder Anthony Scaramucci is among the crypto bulls who predict skyrocketing Bitcoin valuations in 2024 and beyond.
Scaramucci forecasts that Bitcoin will reach at least $170,000 in the 18 months following its halving in April, when the rate of new BTC entering circulation is slashed in half. His estimate is based on past price history, with Bitcoin tending to treble within that timeframe following prior halvings.
BTC’s last halving occurred on May 11, 2020, when the commodity closed at $9,670, according to Yahoo Finance. Almost exactly 18 months later, the asset reached its current all-time high of $69,000.
Prior to the halving, BTC closed at $656 on July 16, 2016, before rising to a peak of $19,783 in December 2017.
Go back and look at Bitcoin halving cycles.. The day that Bitcoin halves, multiply it by four [and] 18 months later and it’s been uncanny that that’s been the price of Bitcoin.
