Bitcoin Price Prediction After Halving 202

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1 month ago

The month before the next Bitcoin halving, we can anticipate a small increase in the price of Bitcoin based on historical price movement. Although there isn't a discernible pattern for Bitcoin's price movement just after each halving, the cryptocurrency has so far trended higher throughout each subsequent halving cycle.

While past success does not predict future trends, market trends frequently correspond with cyclical movements. The price of cryptocurrencies is often significantly impacted by significant blockchain protocol events, such as Litecoin and Bitcoin halvings and shifts in the dynamics of cryptocurrency supply.

This essay will attempt to ascertain what might be anticipated following the next Bitcoin halving, which is presently scheduled for April 2024.

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Important lessons learned:

Events related to the blockchain technology, such as the halving of the Bitcoin supply, alter the dynamics of the cryptocurrency market and have a big impact on prices.

Historical data indicates that the price of Bitcoin often shows a minor increase in the month before a halving event and a significant increase in the month after.

Short-term forecasts are difficult since there is no discernible pattern in the price of Bitcoin just after each halving.

In each of the four years between halvings, Bitcoin's price has reached a new all-time high, despite short-term uncertainty, suggesting positive long-term performance.

With a current estimate of $62,013 for Bitcoin trading on April 12, 2024, the next halving of the cryptocurrency is anticipated to occur in mid-April 2024.

According to the algorithm, there should be a slight pullback one month after the 2024 halving, then a 14-month surge that should culminate in a new all-time high of almost $179,000 in August 2025.

History of Bitcoin price halving

Let's examine the price action of Bitcoin before and after the three halvings that have occurred so far before getting into forecasts about the price of the cryptocurrency.Date: BTC Price: 1M Before Halving; BTC Price: Halving; BTC Price: 1M Following Halving; BTC Price: 3M Following Halving; First HalvingNovember 28, 2012$12.20~~$13.42~~$10.70 + 9.8%)$30.90 (up 153%).

Second Reduction on July 9, 2016$577.2–$633.4$597.5 (-5.6%)$619.8 (-2.2%)

The Third ReductionMay 11, 2020 – $7,060$9,850~$8,730 (+12.8%)$11,860 (up 35.8%)

Charts display performance in relation to the price of Bitcoin.

Since there have only been three Bitcoin halvings to yet, it is challenging to make judgements about how the cryptocurrency would typically perform prior to and following halvings.

The sole recurring pattern from the past three Bitcoin halvings is that the price of Bitcoin was lower one month before to each halving than it was at that point.

Since Bitcoin halvings are arguably the most significant fundamental event related to Bitcoin and are almost universally interpreted as bullish events since they bring about a reduction in the issuance of new BTC coins, it makes sense that the markets felt upbeat in the lead-up to each halving thus far. Therefore, purchasing some more Bitcoin as the halving approaches might not be a good idea.

Regarding the price of Bitcoin after each halving, we have witnessed two cases in which the price went up and one in which it went down. Three months following the most recent halving, the price of Bitcoin has increased by a noteworthy 35.8%.

Longer term, Bitcoin has done remarkably well following each halving. In actuality, for each of the four years in between the halvings, the price of Bitcoin has set new records.

What is the estimated price of bitcoin in 2024 following the halving?

The majority of sources now predict that the second Bitcoin halving will take place in the middle of April 2024. As we get closer to block #840,000 on the Bitcoin blockchain—the point at which the halving will occur—the estimates will becoming more accurate.

As of this writing, CoinCodex's price prediction for Bitcoin indicates that it will trade at around $74,600 on May 18, 2024, one month after the next projected Bitcoin halving. At $67,100, this represents an 11.1% increase over the current price of Bitcoin.

According to the current Bitcoin price projection, three months after the next halving, BTC will trade for about $83,150, which is +2.6% more than the estimated price during the splitting (about $81,000).

Price halving forecast for bitcoin in 2024–2025

The price prediction for Bitcoin on CoinCodex indicates that it will rise by +20.7% between now and the next halving in April 2024. Notably, the algorithm currently predicts that the price of Bitcoin will skyrocket.

In summary, the short-term performance of Bitcoin following the subsequent halving is difficult to predict, but the long-term outlook is bright.

With any luck, our estimate of the price of Bitcoin after its halving in 2024 will give you a better idea of what to anticipate. In terms of immediate price movement, the month before the halving can see a little increase in the price of BTC. Knowing what to anticipate right away following the next halving is challenging because there hasn't really been a discernible pattern in the past.

From a longer term standpoint, assuming the current trend holds, we will witness a new all-time high for Bitcoin during the four years that separate the 2024 and 2028 Bitcoin halvings.