the bitcoin halving, or, more menacingly, “the halvening.”

While it’s often a buy-the-hype-sell-the-news kind of event, the halving does tend to push bitcoin higher. Essentially, bitcoin is a finite asset, and every four years the algorithm reduces the number of new tokens that can enter circulation by half (hence the name).

“The ‘halving’ is the ultimate geek event for Bitcoiners in 2024,” Antoni Trenchev, co-founder of crypto lender Nexo, said in a statement. “So if history repeats itself … we may not see the peak in Bitcoin until sometime in 2025, with 2024 acting as an entrée to the main event.”

Trenchev said the “twin-turbo boost” of the spot ETF approval and the halving, expected in the spring, should propel bitcoin to $100,000 — a 45% jump over its all-time high of 69,000, reached in November 2021.

“The road to $100,000 will be lined with unexpected potholes and double-digit declines as Bitcoin,” said Trenchev. “To borrow a phrase from one its biggest detractors Warren Buffett, ‘transfers money from the impatient to the patient.’”

For an even more bullish prediction, look to Anthony Scaramucci, the founder of SkyBridge Capital and a longtime bitcoin evangelist.

“Bitcoin ends the year at $140,000,” he told the digital news outlet Semafor.