Bitcoin price ready to break $100K after halving?

The bitcoin halving took place today, an important moment that occurs once every four years in the crypto world. As of today, the reward for bitcoin miners has been halved from 6.25 btc to 3,125 btc per block. This reduces the rate at which new bitcoins are created. The idea is that the reduction in supply will increase demand for bitcoin, which should lead to a higher price, according to basic economic principles. But what do experts say about Bitcoin’s price expectations after this halving?

Historical price changes of bitcoin with each halving

With each halving in the past, the price of bitcoin has risen significantly. A crypto proponent named Rizzo showed on the social network . Rizzo predicts that by the next halving in 2028, a bitcoin could be worth at least $100,000.

https://twitter.com/pete_rizzo_/status/1781097259154677925

Experts predict a strong price increase after the bitcoin halving

Several market experts have predicted that the bitcoin price will experience strong growth after this halving. Names like Thomas Lee of Fundstrat, Mark Yusko of Morgan Creek Capital Management, and major companies like Standard Chartered and Bernstein, think the price of bitcoin could rise to $150,000 by the end of this year or in 2025. Robert Kiyosaki, the author of “Rich Dad Poor Dad,” thinks bitcoin will reach $100,000 by June 2024, two months after the halving.

Michael Novogratz, the CEO of Galaxy Digital, also believes that bitcoin will hit $100,000 this year. Peter Brandt, a well-known trader, is even betting on an even higher price of $200,000 for bitcoin in the bull market that is expected to follow this halving.

Historically, bitcoin has always experienced a price increase a few months after each halving. For example, after the halving in 2020, when bitcoin was trading for around $8,800, its value rose to $64,842. This is an increase of 636.84%. This trend suggests that Bitcoin’s price may rise significantly again after the upcoming halving.