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Bitcoin Price Predictions Post-Halving
CoinLedger predicts that Bitcoin’s price could potentially reach $360,000 one year after its 2024 halving event. This forecast is based on an analysis of price movements following previous halving events.
Analysis of Previous Halving Events
The study conducted by CoinLedger focused on the outcomes of past halving events to estimate Bitcoin’s future price. By averaging the post-halving price increases observed in 2012, 2016, and 2020, CoinLedger provided insights into Bitcoin’s potential valuation in the year following the scheduled 2024 halving event.
Price Prediction 3 and 6 Months Post Halving
- In 2016, the price on the halving day was $650; after three months, it increased to $722, a 10.99% rise.
- In 2020, the price rose from $8,572 to $11,393 within three months, showing an increase of 32.91%.
The average increase across these two events is 21.95%. This suggests that in 2024, three months after Bitcoin halves, the price could rise to $84,145 if historical patterns are followed (based on a price of $69,000 at the time of halving).
Six months following the 2016 halving, Bitcoin’s value climbed to $986, marking a 51.57% increase from the halving day price of $650. Similarly, in 2020, the cryptocurrency saw its price jump to $15,702 six months post-halving, reflecting an 83.17% surge.
The historical data reveals an average price increase of 67.73% six months after the last two halvings. Should Bitcoin follow this trend in the future, its price could potentially escalate to $115,733.
Bitcoin Price Projection for 2025
The impact of halving events significantly prompts a price surge after 12 months. In 2012, Bitcoin skyrocketed from $12 to $1,003, marking an astounding 8,000% increase. Although such dramatic growth rates were not factored into calculations for future projections due to vastly different market conditions.
By 2016, Bitcoin’s price reached $2,502 a year post-halving, a 284% increase. In 2020, it climbed further to $56,764, showing a 562% jump from its pre-halving price.
Averaging these increases suggests a potential 423% rise a year after a halving, theoretically pushing Bitcoin’s price to $361,152.
“Bitcoin has performed well recently very early on into this cycle. This has got many people excited about how high Bitcoin could rise in the coming year and the halving only adds to this,” said a CoinLedger spokesperson.
According to CoinMarketCap, Bitcoin is currently trading at $73,275, exceeding the $69,000 benchmark set by the study.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
