Bitcoin Price To Hit $100K in Next 40 Days: Here’s WhyAuthor: Qadir AK

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Bitcoin Price To Hit $100K in Next 40 Days: Here’s Why

Author: Qadir AK

Mar 10, 2024 18:33

Bitcoin is in the spotlight of speculations for its impending halving event. Insights from experienced analyst Michaël van de Poppe have presented us with three intriguing scenarios, with a keen focus on the expected $100,000 mark.

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Scenario 1: The Spectacular $100,000 Run of Bitcoin

Van de Poppe draws his first scenario where the Bitcoin price rises spectacularly to above $100,000 before or immediately following the halving. This scenario manifests a dramatic bull run, likely to further the upward dynamics in the crypto sphere.

Scenario 2: High Consistency at Present Figures

The second scenario imagines a much gentler and steady progress in Bitcoin’s price, and this would be much welcome to those investors who are anticipating a balanced market movement. This situation shows a long period of continuous growth which will definitely attract investors who are searching for a stable portfolio.

Scenario 3: The Retraining Part

Nevertheless, the third scenario gives the opportunity to bring a bit of caution, mentioning the possibility of a correction period. According to Van de Poppe, support levels are set at $52,000 and $45,000. He recommends investors to stay cautious and pay attention to the trends in case of a pullback.

Significance of Bitcoin Halving

The forthcoming 18th of April 2024 fourth Bitcoin halving reduces mining reward to 3.125 coins per block. The halving, one time every four years, is targeted to stabilize the coin supply, historically bringing about positive price motions. However, the decreasing severity of these big price movements with every halving creates uncertainty about the future consequences for miners, which could result in a process of industry consolidation.
The experts estimate the rise up to $125K in 2025 and even $360K by 2030. Factors like the growing institutional interest or an expectation of the approval of spot Bitcoin ETF options are predicted to surge the price because of continuous investment and price appreciation.
Van de Poppe’s followers have shown optimism about Bitcoin’s mid-term prospects and in addition, they are eager to see growth before the halving that will follow the retracement of the price at $70,000 and above, which shows the uncertainty that the bulls and bears are facing.
The past few days have seen the market rallying noteworthy, with Bitcoin’s price reaching an impressive $69,990.
Experts’ views for the upcoming next year and beyond are quite optimistic. While some analyst predicts that Bitcoin will hit $125,000 in 2025 and some believe BTC to surge upto $360,000 in 2030. Elements like the entering of institutional investors and the possible approval of spot Bitcoin ETF Options are predicted to be a probable source of this price growth.
Bitcoin Price Analysis

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