Bitcoin had its fourth halving on April 20, 2024. The entire crypto community – traders, experts, and more – have been, like always, trying to do Bitcoin halving price predictions.
In this blog, we have given crypto and Bitcoin halving 2024 predictions shared by industry leaders and potential ripple effects on altcoins.
Bitcoin halving 2024
A Bitcoin halving event occurs approximately every four years, where the rate of new Bitcoins mined is cut in half. Since there are fewer units being added to circulation, this can make Bitcoin more valuable if demand stays the same.
Kadan Stadelmann, a blockchain developer, believes that big organizations will become more interested in Bitcoin after the halving. A survey conducted by UK-based digital assets hedge fund Nickel Digital Asset Management shows that over 69% of these big investors expect to put even more money into Bitcoin after the halving.
The Bitcoin halving 2024 wasn’t very flashy—Bitcoin just stayed at around $64,000. But this halving matters, especially for miners and investors. Even though we might not see big changes right away, the effects of this event could change the way Bitcoin moves in the years ahead.
Bitcoin halving price prediction: Future of Bitcoin & crypto
Michael Novogratz, CEO of Galaxy Digital
Michael Novogratz, CEO of Galaxy Digital, predicts that Bitcoin’s price will rise to $150,000. He often discusses the impact of young people on the adoption and development of Bitcoin. Novogratz doesn’t think Bitcoin will drop below $50,000. He believes that watching how much money goes into Bitcoin ETFs in the U.S. can help us do Bitcoin halving price prediction better.
Fred Thiel, CEO of Marathon Digital Holdings
Fred Thiel, CEO of Marathon Digital Holdings, thinks Bitcoin will go way up after its halving event, aiming for $120,000. He thinks Bitcoin ETFs are important for keeping the market stable and offering more ways to invest. Thiel notices that big companies are starting to get interested in Bitcoin, and he thinks more people will trust it over time.
Thiel advises keeping a good amount of Bitcoin for a while after buying it to stop the price from going down.
Tom Lee, Co-founder of Fundstrat Global Advisors
Tom Lee, who leads research at FundStrat, expects Bitcoin possibly to hit $150,000 this year. He says more people want Bitcoin because of new investment funds (ETFs). Even though Bitcoin’s price has dropped recently, Lee still feels positive, saying Bitcoin has been strong.
There might be some ups and downs in the short term because of changes in how central banks work and other big global issues. Swissblock, a group that follows Bitcoin, also feels hopeful but thinks the price might drop back to about $47,500 before going up again.
Danny Scott, CEO of CoinCorner
Danny Scott, the CEO of CoinCorner, compares the Bitcoin halving to New Year’s Eve, warning people not to get too caught up in the short-term price changes. He says it’s important to look at what’s happened before because Bitcoin halving history tends to repeat itself similarly, even if things aren’t the same.
In the past, when Bitcoin halvings happened, the price usually went up in the long run, according to Willy Woo, an analyst in the crypto space. But there can be ups and downs in the short term. So, while different predictions are floating around about what will happen after this halving, looking at Bitcoin halving history suggests that the price could go up over time, according to Scott.
Kadan Stadelmann, CTO of Komodo Platform
Kadan Stadelmann, the Chief Technology Officer of Komodo Platform, thinks there will be big changes in the crypto world after Bitcoin halving 2024, especially because big organizations are getting more interested. Unlike before, when retail investors were the main players after halvings, now it’s the big institutions that are really important. For example, MicroStrategy has a ton of Bitcoin worth approximately $11 billion, showing how much these big players are involved.
CoinGecko reports that approximately 27 publicly traded companies own roughly 225,413 bitcoins, equivalent to about 1.18% of the total bitcoin supply. At present values, these holdings amount to approximately $4.6 billion. Stadelmann also points out that Bitcoin’s idea of being decentralized is risky because more and more power is going to a small group of people or companies.
Effects of Bitcoin halving on altcoins and the crypto market
If we look at the Bitcoin halving history, we can see that its price shot up a lot: by 83 times in 2012, 30 times in 2016, and 5 times in 2020. Crypto experts believe we could see similar jumps in Bitcoin’s price this time because halvings make Bitcoin more scarce by reducing the amount of new Bitcoin mined.
Other things like the US allowing Bitcoin investment funds and big global events could also shake up the market. The halving doesn’t just affect Bitcoin; it also influences other cryptocurrencies and financial markets.
After a Bitcoin halving, other cryptocurrencies might get more attention from investors. Prices could swing a lot, mining might become less profitable for some coins, and people might pay more attention to blockchain tech in general.
Final thoughts on Bitcoin halving price prediction
If we see the Bitcoin halving history, it has caused a significant rise in Bitcoin’s price. Experts in the crypto space, like Michael Novogratz, Fred Thiel, Tom Lee, Danny Scott, Kadan Stadelmann, and Ramani Ramachandran, all have different Bitcoin halving price predictions. But overall, all of them think Bitcoin will keep going up and maybe hit new records.
The impact of a halving extends beyond Bitcoin itself. Its aftermath affects other cryptocurrencies, making it a significant event for the entire crypto world.
Visit Millionero’s blog for regular Bitcoin halving price predictions and updates on the global market!
FAQs
- How much is 20 bitcoins worth?
The value of 20 bitcoins depends on the current market price of Bitcoin. As of April 2024, 20 bitcoins would be worth 1295440.00 USD.
- Which crypto will boom in 2024?
Predicting which crypto will boom in 2024 is uncertain. Cryptocurrency markets are highly volatile and influenced by various factors. However, Bitcoin (BTC) seems to be the crypto that will explode in April 2024.
Disclaimer: Cryptocurrencies are an inherently volatile asset class, and investments can carry substantial risks. This information is for educational purposes only and should not be construed as financial advice. Always do your own research and conduct due diligence before investing in crypto projects.