Another sleepless night, where will Bitcoin go after the fourth halving?
With the constant changes of the "atypical bear market", the "halving" narrative that has never faded in the crypto world has arrived. On April 20, 2024, the block reward will be reduced from 6.25 BTC to 3.125 BTC. Everything in the past is a prologue. As one of the most important narratives in the crypto industry, "Bitcoin halving" has always been a good medicine to boost market confidence. Now that the bull market seems to be within reach, will this round of halving cycle have the same rhyme as before?
As early as the Lunar New Year, when the price of Bitcoin exceeded $40,000, various institutions and everyone had already made predictions about the price of Bitcoin, most of which were $90,000. Then by the end of February, Bitcoin broke through 53,000, 54,000, 55,000, and even exceeded $64,000, setting a new high since December 2021. The market atmosphere seems to have gradually returned to the bull market.
In summarizing the major events that have affected the price of Bitcoin in the crypto market, such as the continued outbreak of the Bitcoin ecosystem and the approval of spot ETFs, is this halving a positive or negative? Can it bring a bigger bull market in the future?
Last week, ECOINOMETRICS predicted that if Bitcoin follows a similar post-halving growth trajectory as in previous cycles, we will see the price of Bitcoin between $140,000 and $4.5 million per coin.
With less than 24 hours to go before the Bitcoin halving node, this may also be the first (or second) Bitcoin halving "event" that most practitioners and investors in this round have witnessed and experienced in person. What do you think about the upcoming halving, Bitcoin, and this cycle? Welcome to comment and exchange.
