#Bitcoin To $150,000 Is “Programmed” For Halving: Analyst

With Bitcoin soaring and nearing all-time highs, one X expert says $150,000 post-#halving is “programmed.” The analyst is optimistic, citing many fundamental changes that might boost the world's most precious coin's worth by more than 2X from spot pricing.

At now, the easiest route is north. The March 20 bull bar helped buyers overcome the bears of the preceding month.

The currency reached $71,800, over the liquidation amount, on April 8. Bitcoin has calmed, but the move up may lead to another breach over $74,000.

Bulls need a follow-through of the April 8 spike, preferably with higher trade volumes, to be in charge and agree with the analyst. Bitcoin might reach $74,000 and 2024 highs before the predicted Halving event because to increased demand.

Bitcoin Halving: Supply Squeeze?

The expert says the “Halving” incident is key to this rise. This protocol-driven event will lower block rewards to 3.125 $BTC from 6.25 BTC in less than 10 days.

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Bitcoin may become scarce due to this decline and persistent demand, raising its price.

The expert stated exchanges are holding less BTC before Bitcoin's halving. For instance, Coinbase's holdings are at a six-year low. Data suggests that big exchanges like Binance are witnessing declining supply.

Meanwhile, over-the-counter (OTC) desks, which handle huge, private cryptocurrency transactions, are running low on Bitcoin, signaling high institutional demand. This signals a supply pressure that might deepen in the coming months.

Spot BTC ETF Impact: London, Hong Kong In Picture

The researcher noted that spot Bitcoin ETF providers are purchasing approximately $300 million of #BTC daily. Since these issuers represent individual and institutional investors, they actively inject money into the market, boosting prices.

The predicted spot Bitcoin ETFs drove the Q4 2023–early January rise. The spillover effect and billions in investment make BTC more liquid and resistant to aggressive sellers.