With the approaching Bitcoin halving in April 2024, the crypto market is actively engaging in talks about the future direction of Bitcoin’s price.
Crypto researcher Michaël van de Poppe forecasts a substantial increase in Bitcoin’s price, ranging from $75,000 to $80,000, leading up to the event.
This forecast is derived from the ongoing consolidation phase of Bitcoin, suggesting a gradual accumulation up to a test of its previous peak, followed by a possible decline.
The Bitcoin halving, set to take place in April 2024, is a significant event that has a historical impact on the market dynamics of Bitcoin. The occurrence, which happens about every four years, is expected to cause shortages, leading to increased demand and perhaps higher prices compared to previous trends.
Additional experts, like Jelle and Doctor Profit, have also expressed positive perspectives on the possible price trajectory of Bitcoin.
Jelle predicts that Bitcoin is on the verge of a huge surge, maybe surpassing the $100,000 threshold earlier than anticipated.
Doctor Profit characterizes this movement as an accumulation phase, which will trigger a rapid increase over the $80,000 threshold, with the goal of reaching $100,000.
Bitcoin has seen a decrease of around 2% throughout the last 24 hours, resulting in a current market price that is below $69,500.
