Bitcoin price all-time high will precede 2024 halving — New prediction

According to BitQuant, Bitcoin holders should expect all-time high prices before April 2024, but the events that follow will be much more significant.

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After its next block subsidy reduction, $26,522 has a $250,000 target; nevertheless, new all-time highs will occur sooner.

That’s the most recent estimate for the price of Bitcoin made by BitQuant, a well-known social media analyst who believes the biggest cryptocurrency has a bright future.

BitQuant: Bitcoin prices won’t peak due to the pre-halving all-time high

A pre-halving aim above $69,000 was disclosed by the anonymous “central banker and Bitcoiner” in his most recent post on X (previously Twitter) on September 15.

Part of his analysis said, “No, Bitcoin is not going to the top before the halving.”

“Yes, before the halving, it will hit a new all-time high.”

There are little over six months left in Bitcoin before the halving, which occurs every four years and reduces miner incentives by 50% per block.

Analysts contend that the ensuing emission limitations have a cathartic effect on the performance of the Bitcoin price and serve as a sort of launchpad before the cryptocurrency reaches new all-time highs.

But it in and of itself is insufficiently bullish for BitQuant. Before April of next year, not only will Bitcoin surpass its present record, which was set in 2021, but it will also reach $250,000 per coin after the subsequent halving cycle starts.

He went on, “No, Bitcoin is not going to $160K because every pullback has a significant magnitude.”

This indicates that it will peak in 2024, following the halving. Indeed, the goal price is approximately $250,000.

Divergent Bitcoin traders’ halving price predictions

Market participants are rather split about how the price action of Bitcoin will unfold leading up to and including the halving, as Cointelegraph reported.

Similar: Weren Moon? Bitcoin halving cycle suggests Q4 as wise investors purchase the rumor.

There are still many conservative voices, even though others believe that by April, higher levels are achievable.

Author and Bitcoin investor Jesse Myers refuted the notion last month that the price of BTC/USD will reach six digits by then.

Meanwhile, Filbfilb, co-founder of the trading platform DecenTrader, stated that a pre-halving Bitcoin price ceiling of $46,000 would be applicable in a later interview with Cointelegraph.

“Roughly $35,000 by year’s end and possibly as high as $46,000 sometime before halving in Q1 2024, assuming no black swan event,” he stated.

According to data from the monitoring portal CoinGlass, the price of bitcoin traded at over $26,400 on September 15, up 1.3% for the month of September.

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