Bitcoin’s halving will take place on April 20, 2024. The leading digital currency is trading around $26,000, but analysts at Pantera Capital predict its explosive growth as early as next year.
Before the halving, BTC will rise to $35,000, and after the reduction of the reward of miners, the cryptocurrency will set a new record.
Pantera Capital predicts that after this event, the price of bitcoin will soar to $148,000. The company came to this conclusion after analyzing the consequences of previous halving.
The result of the 2024 halving will be a reduction in the reward to miners per block from 6.25 to 3.125 bitcoin.
The company’s report notes that after the first halving, the supply of BTC decreased by 17%.
The second and third halwings of 2016 and 2020 reduced it by another 30% and 43%. Bitcoin supply will drop by about a third after April 2024.
If the scenario repeats itself, BTC will reach $35,000 as early as next spring, and after the halving it could break all its past records, Pantera Capital analysts emphasized.