Bitcoin's Big Leap? Research Points To $87K Price Target On This Year's Halving
Portfolio Pulse from Mehab Qureshi
A Finder survey of 31 FinTech specialists predicts Bitcoin could reach an average price of $87,000 after its fourth halving in April 2024. Industry experts from ARK Invest, Matrixport, BitQuant, Layer One X, and Bloomberg Intelligence have provided various predictions for Bitcoin's price in the coming years, with estimates ranging from $80,000 to $1.5 million. Over 47% of these experts consider Bitcoin undervalued. The halving event, which reduces the reward for mining new blocks, is expected to influence Bitcoin's value by affecting its supply.
January 29, 2024 | 9:26 am
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Bitcoin is expected to see a significant increase in value following the halving event in April 2024, with predictions suggesting an average price of $87,000. The halving event is anticipated to reduce the rate at which new bitcoins are created, potentially leading to an increase in Bitcoin's price due to its increased scarcity.
The article directly discusses the impact of the Bitcoin halving event on the cryptocurrency's value, with multiple industry experts predicting a significant increase in price. The halving event is known to reduce the supply of new bitcoins, which historically has led to price increases. The predictions, while varied, all suggest a bullish outlook for Bitcoin in the short to medium term, especially post-halving.
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