Bitcoin continues to be volatile around the $26,000 mark after a sharp drop last Thursday. However, the leading cryptocurrency is not expected to see significant gains before the upcoming halving, which is scheduled for April 20, 2024.Pantera Capital, a crypto-focused hedge fund, has predicted that the halving will cause Bitcoin to surge to $35,000 before the event and $148,000 after. This is based on historical patterns, as the halving reduces the supply of new Bitcoin and has a significant impact on the price.Pantera also noted that the first halving reduced the supply of new Bitcoin by 17%, while the second halving in 2016 reduced the supply by one-third. The 2020 halving reduced the supply by 43%, and had a 23% impact on the price.The company believes that Bitcoin will reach its next all-time peak around July 2025, 480 days after the halving. This is based on the fact that Bitcoin has historically bottomed 477 days prior to the halving, and experienced a surge in the run-up to the event.
| Information |
Details |
| Geography |
Global |
| Countries |
|
| Sentiment |
neutral |
| Relevance Score |
8 |
| People |
None |
| Companies |
Pantera Capital, Binance, PrimeXBT |
| Currencies |
Bitcoin, Ethereum |
| Securities |
None |
