Bitcoin Price Predictions After 2024 Halving Point To $100,000 Threshold
Considering historical trends, many experts believe that the next halving in 2024 could trigger an exponential rise in the price of Bitcoin.
The cryptocurrency market is known for its volatility and unpredictability, making predicting future prices a difficult task.
However, the Bitcoin halving event — a mechanism built into Bitcoin’s code that halves the rewards miners receive for adding new transactions to the blockchain — has had a significant impact on Bitcoin’s price in the past.
This process will halve miner rewards from 6.25 BTC to 3.125 BTC per block. A subsequent drop in Bitcoin’s issuance rate could alter supply and demand dynamics, prompting many analysts to revise their price forecasts.
Meaning of Bitcoin Halving
Bitcoin halvings are scheduled to occur approximately every four years and are major events that have a significant impact on the amount of Bitcoin entering the market. A decrease in supply usually leads to an increase in demand, which drives up prices.
Historically, Bitcoin’s price has risen significantly after each halving event. For example, during the first halving in 2012, the price of Bitcoin went from around $12 to over $1,000 within a year. Likewise, in 2017, after the second halving in 2016, the price of Bitcoin surged to nearly $20,000.
Experts’ predictions after the halving
While many in the market tend to predict an immediate bullish rally ahead of the halving, prominent Bitcoin investor and Onramp co-founder Jesse Myers disagrees. Myers noted that the cryptocurrency market is more likely to “price in” the impact of the halving after the event than before.
Myers stated:
“Bitcoin won’t rise to $100,000 before next halving.”
He bolstered his claim with a critique of the Efficient Market Hypothesis (EMH), which assumes that markets always reflect the true value of an asset.
Disputing its accuracy, Myers pointed out:
“Instead, the market will price in the changed reality over the next 12–18 months after the halving.”
#Bitcoin won’t surge to $100k before the next halving…
Because the Efficient Market Hypothesis (EMH) is wrong.
Instead, the market will price-in the changed reality over the 12–18 months post-halving.
Historical patterns as predictors
Historical trends provided by the Stockmoney Lizards trading team highlight Bitcoin’s halving-related performance patterns. According to their data, it usually takes no more than 240 days for a cryptocurrency to hit a new all-time high after a halving.
Stockmoney Lizards confirmed the trend to their followers on X: “This is all predictable. New all-time highs will come in the accumulation phase shortly after the 2024 halving.”
This opinion contrasts sharply with other prominent figures in the crypto space, such as Robert Kiyosaki , the acclaimed author of Rich Dad Poor Dad, who remains bullish on Bitcoin hitting the six-figure mark just before the halving.
Given this historical trend, many experts believe that the next halving in 2024 could trigger another price increase. A report suggests that Bitcoin could potentially reach a staggering $100,000.
This prediction aligns with the Stock-to-Flow (S2F) model — a popular tool used to predict the price of Bitcoin. The S2F model, which takes into account the increasing rarity of Bitcoin after the halving, also indicates a potential price of $100,000 for Bitcoin.
However, these forecasts provide valuable insights but are not guaranteed. The cryptocurrency market is influenced by numerous factors, including regulatory developments, technological advancements, and general market sentiment.
