Bitcoin price all-time high will precede 2024 halving — New prediction

Bitcoin (BTC) has a $250,000 goal for after its subsequent block subsidy halving — however new all-time highs will come sooner.

That’s the newest BTC worth prediction from BitQuant, the favored social media commentator who sees a rosy future for the biggest cryptocurrency.

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BitQuant: Pre-halving all-time excessive won’t be BTC worth high

In his newest submit on X (previously Twitter) on Sept. 15, the pseudonymous “central banker and Bitcoiner” revealed a pre-halving goal above $69,000.

“No, Bitcoin just isn’t going to high earlier than the halving,” he wrote in a part of commentary.

“Sure, it’s going to achieve a brand new all-time excessive earlier than the halving.”

Bitcoin has simply over six months earlier than the halving, the occasion that cuts miner rewards earned per block by 50% each 4 years.

Analysts argue that the ensuing emission restrictions have a cathartic influence on BTC worth efficiency, performing as one thing of a springboard prematurely of Bitcoin seeing new all-time highs.

For BitQuant, nonetheless, that alone just isn’t bullish sufficient. Not solely will Bitcoin beat its present file, set in 2021, earlier than subsequent April — it’s going to go on to hit $250,000 per coin after the subsequent halving cycle begins.

“No, BTC just isn’t going to $160K as a result of the magnitude of each pullback is massive,” he continued.

“This implies it’s going to peak after the halving, in 2024. And sure, the goal worth is round $250K.”

BTC/USD annotated chart. Supply: BitQuant/X

Bitcoin merchants diverge on halving worth picks

As Cointelegraph reported, market members are extremely divided in the case of how BTC worth motion will play out into the halving and past.

Associated: Wen moon? Bitcoin halving cycle hints at Q4 as smart money ‘buys the rumor’

Some agree that increased ranges are potential by April, however loads of conservative voices stay.

Final month, Bitcoin investor and creator Jesse Myers dispelled any idea that BTC/USD can be buying and selling at six figures between from time to time.

In a subsequent interview with Cointelegraph, in the meantime, Filbfilb, co-founder of buying and selling suite DecenTrader, gave a pre-halving BTC price ceiling of $46,000.

“Assuming no black swan occasion, round $35,000 by the top of the 12 months and presumably as excessive as $46,000 a while pre-halving in Q1 2024,” he mentioned.

Bitcoin traded at round $26,400 on Sept. 15, up 1.3% in September to this point, per knowledge from monitoring useful resource CoinGlass.

BTC/USD month-to-month returns chart (screenshot). Supply: CoinGlass

This text doesn’t comprise funding recommendation or suggestions. Each funding and buying and selling transfer includes danger, and readers ought to conduct their very own analysis when making a call.