Bitcoin (BTC) Parabolic Rally To Take Post-Halving Price To $300K, Predicts Crypto Analyst
Market sentiment slowly shifting to BTC price hitting over $100k in 2024 as the Bitcoin halving to happen in less than a year. Binance CEO “CZ”, Ark Invest CEO Cathie Wood, BitMEX co-founder Arthur Hayes and other leaders have shared their outlook on post-halving Bitcoin price.
Popular analyst CredibleCrypto predicts BTC price to hit a new all-time high in 2023 following the longest bear market and compared it to the technology stocks rally seen since 2008. In addition, he expects the next parabolic advance amid the Bitcoin halving may take BTC price near $300k.
He said parabolic advance typically happens a few months after breaking above the previous all-time highs. It means BTC price needs to break above the previous ATH of $68,789 for a parabolic rally, taking the post-halving BTC price to near $300k.
Also Read: Why Bitcoin Whale MicroStrategy (MSTR) Stock Price Is Soaring?
Other Predictions on Bitcoin Price
As per ChatGPT sequential analysis, Bitcoin price can hit $135,000 after the fourth Bitcoin halving event in April 2024. However, Binance CEO “CZ” turned down the analysis hinting at more upside.
Ark Invest CEO Cathie Wood predicted Bitcoin price will hit $500,000 by 2026 and $1 million by 2030. She remained bullish on Bitcoin for a long time due to institutional and retail investors’ demand for the top cryptocurrency.
BitMEX co-founder Arthur Hayes predicted BTC price to reach $100k by the end of this year or early 2024. In December, he said April-May will bring a turnaround of events that could reverse the cycle.
A flurry of spot Bitcoin ETF filings by BlackRock, Fidelity Investments, and other financial giants turned market sentiment positive for a massive rally in BTC price. Moreover, crypto funds saw the third consecutive week of inflows after 9 weeks of outflows, as Bitcoin’s monthly MACD has also turned green and indicates an upcoming rally.
[converter id=”btc-bitcoin” url=”https://coingape.com/price/converter/btc-to-usd/”]
On Monday, Standard Chartered revised its earlier Bitcoin price prediction for $50,000 in 2023 and $120,000 in 2024. The financial giant earlier gave a $100,000 BTC price prediction for 2024.
Also Read: XRP Lawsuit –XRP Lawyer, Ripple CTO Expect Judge Torres’ Summary Judgment In September
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