BTC Price Prediction for April 2024!!
The Bitcoin halving in April 2024 is an exciting event for the cryptocurrency market. Halving cuts the rewards from Bitcoin mining in half, which can cause the supply to decrease and potentially increase the price. In this article, we will try to predict the price of bitcoin using bitcoin mining costs during the halving period.
Bitcoin mining costs are correlated with the current bitcoin prices. During bear and bull seasons, the Average Mining Costs/Bitcoin Price Ratio can vary, usually hovering between 1-1.5 in bear markets and 0.5-0.9 in bull markets.
If we look at the previous halving periods, we can calculate the average Mining Costs/Bitcoin Price ratio as "0.67".
London-based Argo Blockcahin's bitcoin mining cost estimate for after the April 2024 halving is $65,371.
If we calculate these data, we can find the bitcoin price x average mining cost = 0.67 From this correlation, we can find the bitcoin price prediction for April 2024 as $ 97,568.65.
