BitQuant, a renowned social media commentator in the cryptocurrency sphere, has set a bold price prediction for Bitcoin.
While many anticipate Bitcoin’s price to surge as it approaches its next block subsidy halving, BitQuant’s forecast suggests that it will reach new all-time highs even before this event.
In a recent post on X, formerly known as Twitter, BitQuant, operating under the pseudonym of a “central banker and Bitcoiner,” disclosed a pre-halving target exceeding $69,000.
He emphasized that Bitcoin would not reach its peak before the halving, but rather, it would attain a new record high.
Currently, Bitcoin has a little over six months left before the halving, an event that reduces miner rewards by 50% every four years.
Analysts contend that this reduction in supply emissions tends to catalyze a surge in Bitcoin’s price, acting as a launching pad for new all-time highs.
BitQuant, however, remains even more bullish in his outlook.
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He believes that not only will Bitcoin surpass its existing all-time high, established in 2021, before April, but it will eventually reach an impressive $250,000 per coin after the commencement of the next halving cycle in 2024.
Contrary to BitQuant’s optimism, the cryptocurrency market is marked by a stark division of opinions regarding Bitcoin’s price trajectory leading up to and following the halving.
While some share BitQuant’s optimism about higher prices by April, many adopt a more conservative stance.
Jesse Myers, a Bitcoin investor and author, dismisses the idea of BTC/USD hitting six figures before the halving.
Meanwhile, Filbfilb, co-founder of trading suite DecenTrader, projects a pre-halving BTC price ceiling of $46,000, barring any unforeseen black swan events.
As of September 15, Bitcoin was trading at approximately $26,400, marking a 1.3% increase in September so far, according to data from monitoring resource CoinGlass.
While the future remains uncertain, BitQuant’s prediction has certainly added to the ongoing debate about Bitcoin’s price trajectory, leaving the cryptocurrency community eager to see how events unfold in the coming months.
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