What are your takes after this halving? You want it to pump right? Perhaps for personal purpose, who doesn't want to have some extra bucks or even a worthy amount. A lot are nervous about the market direction. Will it go North or South? How far North and how far South? Even before the halving, predictions were flooding the media. I guess it's time we sit back and watch it all play out. Time always tells and all of us are subject to time. It will be us in the market that will summarize predictions.
While others may still be skeptical about Bitcoin being a bubble waiting for its appointed time to pop, others have keyed into this virtual decentralized tech currency and have grown their industries especially in the realm of transactions. I wonder what's really left to pop when it bounced back from below of 17K to over 70K. The currency has ascertain resistance which has given it a reputable name in the financial industry.
There were articles I read maybe few months ago which listed some prominent names and companies that foresee the prices of bitcoin. Goldman Sachs says bitcoin is going to $100,000. JPMorgan's prediction for bitcoin’s long term price was that it could go up to $150,000. Standard Chartered, a British multinational bank, predicted it will hit $200,000 in 2025. Fundstrat’s Tom Lee, was convinced of an upward move to $500,000 over the next five years. There have been several others who have put their bitcoin price on the table. The sweetest of them all from this review would be from Tom Lee, I am already imagining what this would do to Bitcoin and the altcoin industry.
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A lot of predictions would have come to pass if several factors were constant, yet we must admit, we are leaving in a world of both man made and natural disasters. To be precise, it is the man made disasters that we should bother most about. Can bitcoin hit 500K? What are the criteria that would make this happen and what also would stop it from happening. Just like the uncertainty in Israel against Iran has stumbled the financial market recently, we saw the dip to almost $59,000 dollars. I must say, this was not what we expected during the halving period in which everyone was daring to not miss out in the gains. Some were liquidated a week or days before the halving. That's the market for you, anything can happen.
Changelly expect the minimum price of bitcoin for year 2024 to be within $78,000 dollars mark, keeping their average price at the $81,000 dollars mark and a maximum price within the $93,000 dollars mark. From them, there is no 100K possibility for the year 2024. Following the news I saw 100K plus from next year. What I would love to really follow up in their prediction is their most recent bitcoin forecast which predicts an increase in BTC value by 12.7% to shoot bitcoin price above $71,800 dollars by April 22, 2024 and that's tomorrow (you know as usual, it's never a financial advise, thank you).
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Reports from coincided, there is a 2024 prediction of within $85,000 to $92,000 dollars. Still seeing no possibility of 100K price mark this year. They also believe such possibilities are for 2025 when looking through their 2025 bitcoin prediction (range of $115,000 to 120,000 dollars). Wow! This would be a can't wait moment for potential investors and bitcoin holders. Can the bulls be exhausted this September about the market push and settle for the 80K mark according to them? Many things drive the market to either positively crazy or negative.
The ath for bitcoin currently has been within the above $73,000 which happened last month. How chronic and staggering can the bitcoin price be to not reach or exceed 100K this year. What makes this financial service providers doubt such a price surge in 2024? I guess they are looking at bitcoin's green light within the 360 calendar after halving which has always been surer to attend such needed growth. There is always a need to approach the market with caution. What one needs to be more conscious about these days are wars or rumors of war. We saw what the Russian-Ukraine war did to the market some years ago. Recently the Israel-Iran arms testing has also threatened market results.
To conclude, let me add, predictions have been pouring in from left right and center even before the halving. More are also pouring in after that. There is no master of the market as long as nature and humans are concerned. Some feel the result of this halving will be different from the previous ones. Everyone is free to predict, yet one thing is certain, numbers will display itself on daily bases to prove the final point. What are your predictions after this halving?, join in the conversation.
Disclaimer, if you've ever read my financial article, always note it is not an investment advice. I am not even done advising myself. financial market is a game of who wins and who losses. DYOR. Thanks for your usual understanding.
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