The Bitcoin halving event that took place in April 2024 could trigger a strong price increase, pushing Bitcoin value up to $130,000 by September 2025.
According to the latest report from Peter Brandt, the Bitcoin halving event taking place in April 2024 reduced the block reward from 6.25 BTC to 3,125 BTC. This event could lead to a strong price increase, with Bitcoin price forecast to peak at $130,000 in September 2025.
The halving event, one of the important milestones in Bitcoin history, reduced the block reward from 6.25 BTC to 3,125 BTC, contributing to increasing Bitcoin's scarcity. History has proven the power of halving on Bitcoin price. After the 2016 halving, Bitcoin price increased from 650 USD to nearly 20,000 USD by the end of 2017. Similarly, after the 2020 halving, the price of Bitcoin increased from about 9,000 USD to 64,000 USD in April 2021.
Peter Brandt believes that the 2024 halving will continue to create a similar effect. They predict Bitcoin price will begin to increase sharply in mid-2024 and peak in September 2025. Other factors such as growing acceptance of Bitcoin and favorable regulation of cryptocurrencies globally will also contribute to this bullish trend.
The report also emphasizes that the halving event not only affects Bitcoin price but also affects the entire market. Halving the block reward will reduce the supply of new Bitcoin, creating scarcity, pushing up the value of Bitcoin and incentivizing miners to stay active, despite rising mining costs.
Notably, halving can also create a new wave of investment in the cryptocurrency market. Investors can take advantage of this opportunity to buy Bitcoin and other cryptocurrencies with the expectation that prices will increase in the future.
However, the analyst company also recommends that investors should be cautious and not rely entirely on forecasts, as the cryptocurrency market is very volatile and influenced by many different factors, including global economic policies, technological developments and user adoption.