Almost 5 months have passed since Bitcoin completed its fourth halving in history in April, and now highly bullish predictions about the future price of the cryptocurrency are starting to spread.
Historically, Bitcoin performs very well in the last quarter of halving years, with historical performances boding well for the next 3 months.
Another bullish indicator for the price of the cryptocurrency concerns the trend of the miners’ income, currently at the lowest point in the last 4 years.
Are you ready to see Bitcoin trade at 100,000 dollars?
Analysis of the historical performance of Bitcoin: focus on the post-halving period
Before moving on to future predictions of Bitcoin’s price, we must necessarily look at the historical post-halving performance of the crypto.
In fact, the quadrennial block reward halving event usually leads to a general rise in prices, but not all months of that year are positive.
Furthermore, the bullish phase that follows the halving is limited by a well-defined time window, as has been the case for the past 12 years.
It is therefore necessary to at least understand in which phase of the cycle of Bitcoin we are at this moment, and whether there is still room for a price rally.
Investor Lark Davis comes to our rescue, analyzing in a post on X how the orange coin has moved in recent years alongside the halving.
The first data that catches the eye concerns the favorable effect on the price of Bitcoin in the entire Q4 of each halving. Especially in the last 3 months of 2012, the crypto grew by 8.47%. In the same period of 2016 and 2020, it recorded a pump of 58.17% and 168.02% respectively.
Calculating the performance of Bitcoin in each Q4, the average growth amounts to 88.84%, leaving room for explosive predictions for the coming months of trading.
Very interesting how it has always marked excellent price returns even in the first and third quarter after the halving year.
In Q1 of 2013, Bitcoin soared with a rise of 539.96%, in 2017 it grew by 11.89%, and in 2021 it doubled with a 103.17%.
In the third quarter of the same years, it reported an increase of 40.6%, 80.41% and 25.01% respectively.
If history were to repeat itself, the forecasts for the next 12 months predict 3 out of 4 quarters of positive price action for the price of the crypto.
Miners’ income hits multi-year low after latest halving: ready for the price boom
To support the bullish predictions under the theory of post-halving historical performance of Bitcoin’s price, we see the trend of miners’ income.
In fact, the halving has a direct effect on the income of the workers in the cryptographic network, which then affects the value of the crypto itself.
After each halving of the block reward, the miners actually reach the lowest level of their business, only to re-emerge in parallel with the appreciation of Bitcoin.
As the expert “QuintenFrancois” observes on X, we may be close to the bottom of this indicator.
According to data from The Block, we are currently at the lowest point in the last 4 years in terms of miner profitability.
After the revenue peaked in March 2024, also due to the increase in fees with the explosion of Ordinals, the revenue fell with the halving in April.
As has historically happened in these situations, we expect an imminent trend reversal, such as offering greater economic security to the mining society.
According to historical forecasts, there could be the first sign of optimism in the price of Bitcoin as early as next month.
Future Bitcoin Price Predictions: Will the Halving Still Have the Expected Effect?
Historical data of the halving in hand, let’s now see what experts say about future predictions of the price of Bitcoin.
At the beginning of the year, the famous financial company Standard Chartered assumed a target of 100,000 dollars, which was later increased to 150,000 dollars, for Bitcoin by the end of 2024.
The same London bank, driven by a bullish spirit on the cryptocurrency, would have even claimed to expect the crypto to reach 250,000 dollars as the peak of 2025.
In the world of finance, the terms “bull” and “bear” are often used to describe market trends. A “bull” market is characterized by rising prices, while a “bear” market is characterized by falling prices. Investors need to understand these concepts to make informed decisions.
The CEO of Vaneck, a $90 billion hedge fund, reportedly revealed his super bull prediction on Bitcoin in a recent interview with Fox Business.
In particular, Jan Van Eck believes that Bitcoin will soon reach 350,000 dollars, putting the cryptocurrency on the same level as gold.
His thesis supports the factors of Bitcoin’s intrinsic value, digital scarcity and mass adoption by ETF.
In the financial markets, the terms “bull” and “bear” are used to describe the general trend of the market. A “bull” market is characterized by rising prices, while a “bear” market is characterized by falling prices. Investors often use these terms to indicate their market outlook and strategy.
Broadening the horizon a little, let’s see what are the predictions of Michael Saylor, CEO of the well-known business intelligence company Microstrategy.
Saylor recently told CNBC that he expects a compounding effect on the price of Bitcoin at each halving.
According to his projections, the cryptocurrency could even exceed 13 million dollars in the next 21 years, becoming the most capitalized financial asset on the planet.
However, more modest are the predictions of the web portal DigitalCoinPrice, which sees Bitcoin reaching a minimum price of 52,000 dollars in 2024 and a maximum price of 121,000 dollars.
Broadening the time frame, optimism for the future emerges here as well, with Bitcoin values oscillating between $392,000 and $435,000 for 2030.
Disclaimer for Uncirculars, with a Touch of Personality:
While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.
No legal, tax, investment, or financial advice should be inferred from these pixels. We’re not fortune tellers or stockbrokers, just passionate crypto enthusiasts sharing our knowledge.
And just like that rollercoaster ride in your favorite DeFi protocol, past performance isn’t a guarantee of future thrills. The value of crypto assets can be as unpredictable as a moon landing, so buckle up and do your due diligence before taking the plunge.
Ultimately, any crypto adventure you embark on is yours alone. We’re just happy to be your crypto companion, cheering you on from the sidelines (and maybe sharing some snacks along the way). So research, explore, and remember, with a little knowledge and a lot of curiosity, you can navigate the crypto cosmos like a pro!
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