The world’s leading cryptocurrency has risen more than 70 per cent since 1 January, reaching above $70,000 for the first time in its 15-year history. It builds on gains of more than 150 per cent last year, which saw it rise up from below $17,000 at the start of 2023.
More significantly, according to some crypto market analysts, is an upcoming event known as the ‘halving’, which will see the rewards for mining the cryptocurrency cut in half.
Beyond this point, it is unchartered territory. Regarding the average price prediction for BTC of $123,056, this will require the cryptocurrency to rally another 60 per cent from its current levels. While the timeline is unclear, this could be a possibility given how prices have rallied.
Please be notice this is just a prediction, invest at your own risk.
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