BTC price won’t hit $100K before 2024 halving — Bitcoin investment exec
Halving vs. BTC cost: “All very foreseeable”That position contrasts with some recent forecasts for how BTC rate action will evolve in the coming months and beyond.Related: Bitcoin dangers 15% dip by October, however $100K is due in 2026– AnalysisSome think a breakout is around the corner, with October currently a popular deadline for the Bitcoin bull market to return. In terms of pre-halving cost forecasts, $100,000 or more is not uncommon.One of the newest calls for six-figure Bitcoin comes from Robert Kiyosaki, author of the popular book, “Rich Dad Poor Dad,” who this week doubled down on his BTC price prediction.Meanwhile, historic analysis reveals that many of Bitcoins cycle gains happen post-halving rather than in the run-up to one.After the previous three halvings, it took an optimum of 240 days for BTC/USD to strike a brand-new all-time high, trading team Stockmoney Lizards exposed this month. New all time high will happen soon after Halving in 2024.
Bitcoin (BTC) will just hit 6 figures after its 2024 block subsidy halving, not in the past, Bitcoin financier and author Jesse Myers believes.In an X (previously Twitter) post on Aug. 15, Myers, who is co-founder of Bitcoin investment firm Onramp, said that the market would only “cost in” the cutting in half post factum.Markets not “effective” with Bitcoin halvingBitcoins four-year halving cycles are back in focus as the next halving occasion looms in the first half of 2024. Miners will see the reward earned per block of deals drop from 6.25 BTC to 3.125 BTC, while the corresponding drop in emission and its effect on supply and demand is getting experts excited.For Myers, nevertheless, markets will only bear out those implications after the halving has actually occurred.” Bitcoin wont rise to $100k prior to the next halving,” he summarized.Justification can be found in the kind of criticism of market intuition. The Efficient Market Hypothesis (EMF), which mentions that markets constantly show the real state of a given property, is “wrong,” Myers claims.” Instead, the market will price-in the changed truth over the 12-18 months post-halving,” he added.Current analysis reveals that the year before a halving event has seen comparable BTC cost efficiency on each occasion.Candle 4 happens to represent the year of the #BTC HalvingAnd traditionally, $BTC tends to backtrack early on in a new Candle 4But after this initial retrace, BTC then recuperates and rallies substantially without looking back #Crypto #Bitcoin pic.twitter.com/5blKD1E8n7— Rekt Capital (@rektcapital) August 8, 2023