Bitcoin bulls with halving projecting price action to the moon

in LeoFinance2 months ago

In the last 24 hours the Bitcoin price action broke through the $44,000 zone again, an action that generates confidence among bullish traders as it somehow confirms that the price managed to consolidate the sideways and accumulation zone located between $40,000 and $43,000.

In the most recent article socialized by one of my favorite columnists William Suberg, he indicated that "Bitcoin market participants see BTC price easily reaching new all-time highs after its block grant halving."

According to Suberg, "The supply of freshly mined Bitcoin will decline by 50% per block around April 18, leaving any buyers to fight for a declining asset. Coupled with projected buying pressure from newly launched Bitcoin exchange traded funds (ETFs) in the U.S., the stage could be set for a supply squeeze like no other."

On the other hand, according to predictions by Charles Edwards (founder of quantitative Bitcoin and digital asset fund Capriole Investments), "If Bitcoin returns after Halving are the same as 2020, we are looking at a USD 280K Bitcoin next year."

Edwards touched on a common narrative involving Bitcoin's four-year price cycles. This states that each successive cycle peak will be less extreme than the last due to Bitcoin maturing as an asset, with volatility permanently decreasing.

I would like to know your own projection as to what you consider the projection Bitcoin's price action will take after halving.

SOURCES CONSULTED

Cointelegraph. 3 Bitcoin price forecasts calling new all-time highs and more in 2024. Link

OBSERVATION:

The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph

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