The leading cryptocurrency Bitcoin (BTC) has a target of $250,000 after the next halving event, but new all-time highs may come earlier. This is the latest BTC price prediction from BitQuant, a popular social media commentator who sees a bright future for the largest cryptocurrency.
Expectations for Bitcoin’s ATH!
In his recent tweet, a central banker and a former Twitter user known as Bitcoiner, set a pre-halving target above $69,000. The expert stated the following in his comments:
Yes, Bitcoin will reach an all-time high before the halving.
Bitcoin’s next halving event, which reduces miner rewards per block by 50% every four years, is a little over six months away. Analysts argue that the resulting emission constraints have a relieving effect on BTC’s price performance, acting as a springboard before reaching all-time highs.
Growing Expectations for BTC!
However, for BitQuant, this alone does not mean enough upward movement. According to the analyst, Bitcoin will not only surpass its current record set in 2021 before April next year but also reach $250,000 per crypto unit after the next halving cycle begins. Nevertheless, there is considerable division regarding how BTC’s price movement will be affected by the halving and its aftermath. While some agree that higher levels are possible by April, there are many different opinions that persist.
Last month, Bitcoin investor and writer Jesse Myers debunked the idea that BTC/USD would trade in the six-digit range from now on. Meanwhile, Filbfilb, the co-founder of DecenTrader trading package, suggested that the pre-halving BTC price ceiling would be $46,000. The expert stated the following:
BTC could reach around $35,000 by the end of the year and possibly up to $46,000 before the halving in the first quarter of 2024.
