Bitcoin: Up or Down After Halving? Experts Share Predictions

Bittime - The Bitcoin halving event which is only three days away (estimated April 20 2024) is in the spotlight of crypto fans and investors around the world.

Throughout history, halving has always been followed by changes in the price of Bitcoin (BTC). This article discusses predictions from well-known crypto figures about the future of Bitcoin after the halving, looking at the potential for increases ( bullish ) and decreases ( bearish ).

What happens during 2024 Bitcoin Halving? Click Here!

Optimistic Predictions from Tim Draper

Venture capitalist Tim Draper estimates that Bitcoin's value will triple to $250,000 by the end of 2024. This increase is driven by the influx of investment into Bitcoin Exchange-Traded Funds (ETFs) and halving events.

Draper believes the approval of a Bitcoin ETF in the United States has sparked renewed interest in Bitcoin and provided an easier way to invest.

He sees Bitcoin as a hedge against weakening fiat currencies and believes limited quantities and increasing adoption will make Bitcoin increasingly desirable.

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Draper emphasized the importance of the fourth halving which will reduce supply, increase demand and push prices up.

Overall, Draper views Bitcoin as a safe asset against inflation and suggests investors allocate a small portion of their funds to protect the value of the investment.

Also Read: Price Predictions After Bitcoin Halving, Two Versions That Make You Dizzy

Michael Saylor: Convinced of Bitcoin's Potential

Michael Saylor, CEO of MicroStrategy, is optimistic about Bitcoin's future, even predicting Bitcoin will become a more valuable asset than gold.

According to him, Bitcoin has all the advantages of gold without the disadvantages, making it a superior investment. He predicts Bitcoin will attract investment from other assets, such as the SPDR S&P 500 ETF, and become the main choice for institutional investors.

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Saylor also highlighted the Bitcoin halving which will reduce the number of new Bitcoins in circulation, potentially pushing the price up to meet investor demand.

Cathie Wood's Bullish View

Cathie Wood , CEO of Ark Invest, is optimistic that Bitcoin's price could potentially reach $3.8 million driven by increased institutional adoption and the presence of new ETFs. Earlier this year, he predicted Bitcoin would reach $1.5 million by 2030, but recent developments have made his predictions more optimistic.

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His analysis shows that an allocation of more than 5% of a portfolio to Bitcoin could potentially generate an additional $2.3 million for institutional investors.

Since the SEC approved Bitcoin ETFs for companies like Ark, Bitcoin demand has skyrocketed, driving new records in ETF inflows. Experts predict the Bitcoin halving could increase demand due to limited supply.

Wood predicts the halving will be similar to previous events, where Bitcoin prices jumped sharply. He argues that the financial environment around Bitcoin is just beginning to develop and has the potential for significant expansion in the future.

Positive Predictions from Richard Teng

Binance's new CEO, Richard Teng, predicts Bitcoin (BTC) will surpass $80,000 by the end of the year due to reduced supply and increased demand.

The crypto market has hit record highs following the approval of a Bitcoin ETF in the US, with Bitcoin touching $73,000 last week.

Institutional adoption drove the market rally, leading financial firms like Standard Chartered to raise Bitcoin's year-end price target to $150,000.

Teng expects more investment from family offices and endowments into Bitcoin ETFs. Despite the volatility, the CEO believes the market's ups and downs will ultimately benefit crypto.

How to Buy Bitcoin (BTC) on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn Complete Guide How to Buy Crypto on Bittime . 

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

Examining Bitcoin's Prospects in 2024, Bullishness Increasingly Real?

ETH IDR : Ethereum ETF Prospects, SEC Postpones Grayscale Ethereum Spot ETF Decision

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.