New Prediction: Bitcoin Price to Hit All-Time High Before 2024 Halving

Bitcoin’s price predictions are always a topic of fascination, and the latest forecast comes from BitQuant, a prominent figure in the world of cryptocurrency commentary. BitQuant’s prognosis suggests a target price of $250,000 after the next block subsidy halving, but what’s intriguing is the expectation of new all-time highs before this event takes place.

In a recent post on X (formerly Twitter) dated September 15, the enigmatic “central banker and Bitcoiner” shared insights into their outlook, revealing a pre-halving target that surpasses $69,000. Dispelling any notions of Bitcoin topping out before the halving, BitQuant confidently asserts that the cryptocurrency will achieve a new all-time high before the halving.

The halving, scheduled to occur in just over six months, involves a 50% reduction in miner rewards earned per block and happens every four years. Analysts often argue that the emission constraints imposed by this event have a profound impact on Bitcoin’s price performance, effectively acting as a catalyst for new all-time highs.

However, BitQuant believes that this catalyst alone won’t suffice. According to their prediction, not only will Bitcoin surpass its previous record set in 2021 before April, but it will also climb to $250,000 per coin as the next halving cycle commences.

Dismissing notions of a $160,000 target due to the magnitude of significant pullbacks in Bitcoin’s price, BitQuant anticipates a peak in 2024, with the target price set at approximately $250,000.

Predictions about Bitcoin’s price leading up to and following the halving event have generated varying opinions within the crypto community. While some foresee higher price levels by April, more conservative voices emphasize caution.

For instance, Bitcoin investor and author Jesse Myers recently countered the idea of BTC/USD reaching six figures before the halving. In contrast, Filbfilb, co-founder of the trading platform Decentrader, offered a pre-halving BTC price ceiling of $46,000 in an interview, assuming no unexpected “black swan” events.

As of September 15, Bitcoin was trading at approximately $26,400, marking a 1.3% increase in value for the month, according to data from CoinGlass, a monitoring resource for cryptocurrency markets.

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