Bitcoin Could Reach $500K by 2025, Say Experts
NAIROBI (CoinChapter.com) – Social Capital CEO, Chamath Palihapitiya, suggests Bitcoin could reach or exceed $500K per coin by October 2025. This is based on historical price patterns following halving events. This projection aligns with data showing substantial price increases between 12 and 18 months after each halving, setting the stage for another potential surge.
Experts predict BTC price to $500k by 2025. Source: Simply Bitcoin/X
This projection aligns with data showing a substantial price increases between 12 and 18 months after each halving, setting the stage for another potential surge.
Bitcoin’s Halving History: A Blueprint for Bitcoin to Reach $500K
Previous Bitcoin halving price effects. Source: Social Capital
Upon examining the price performance of Bitcoin at one month, three months, six months, nine months, 12 months, and 18 months after previous halving events, distinct trends are evident. While the initial months often involve reassessment and price fluctuations, significant price appreciation is observed within six to 18 months.
“Our data shows a clear pattern,” he states. “After each halving, Bitcoin’s price skyrockets within 12 to 18 months.”
said Social Capital CEO, Chamath Palihapitiya.
In the first halving cycle, Bitcoin’s price jumped from around $11 to $1,038. The second cycle saw an even more dramatic rise from $650 to $19,497. Most recently, in the third cycle, Bitcoin soared from $8,821 to an impressive $67,000. This recurring trend suggests that the upcoming halving in 2024 could set the stage for Bitcoin to reach $500K by October 2025.
A Battle at the $72K Resistance
As of June 3, 2024, Bitcoin (BTC/USD) is trading near a crucial resistance level. The current price hovers around $67,711, facing resistance at the $72,000 mark. This resistance level is critical as it has repeatedly capped bullish advances over the past months.
BTC/USD price chart. Source: TradingView
While the long-term outlook appears bullish, Bitcoin’s daily chart currently reveals a struggle. After a surge in demand pushed Bitcoin towards the significant $72,000 resistance region, it encountered selling pressure. This $72,000-$74,000 range has proven to be a formidable barrier, halting several upward attempts in recent months.
On the support side, the 100-day moving average at $66,000 is playing a crucial role. This level, backed by notable demand, has the potential to halt further selling pressures. However, Bitcoin’s price is currently trapped between this support and the $72,000 resistance, indicating an impending breakout is necessary to establish a robust price trend.
The Stochastic RSI, a momentum oscillator, shows a reading near the oversold territory at 18.82. This suggests that the market might be undervalued, potentially leading to a bullish reversal if investor sentiment shifts.
Social Capital’s projection of Bitcoin’s potential to exceed $500K by October 2025 is not mere speculation but grounded in historical data. The consistent pattern of substantial price increases following halving events provides a compelling argument for this forecast. As the next halving approaches, all eyes will be on Bitcoin to see if it can break its current resistance and follow its historical post-halving trajectory.
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