BITCOIN ALL TIME HIGH IN FEBRUARY 12, 2024 AFTERMATH, BITCOIN HALVING AND PREDICTION LIST IN 2024. 14th of FEBRUARY , 2024
On the 12th of February 2024, Bitcoin price reached an all time high of $50,423.42 for the year. Bitcoin have only reached this value two years ago and is currently have a bullish market sentiment. However, various establishment have predicted the price of Bitcoin for the year 2024 with various analysis such as Bitcoin halving.
Technically, Bitcoin halving reduces or cuts the rate at which new bitcoins (block) are delivered into circulation by half. The current mining reward for each block of transactions is 6.25 bitcoins. Bitcoin halving is expected to occur on the 19th of April,2024. When this occur, mining reward for each Bitcoin block would be 3.125. The Bitcoin block rewards system is actually expected to continue until the year 2140.
Various individuals and organizations have predicted various expectations on estimated price of Bitcoin for 2024. This includes: Changely, Forbes, NASDAQ, Euronews and coinpedia
Changelly have a whole table for bitcoin price prediction for the whole month and year. According to Changelly prediction, Bitcoin price in 2024 is expected to reach a minimum price of $67,487.25 and a maximum high of $78,369.16. A steady decline on bitcoin price is anticipated monthly till the end of the month of March, 2024. Click here to read more
Similarly, Forbes cited Geoff Kendrick, head of crypto research at Standard Chartered Bank, predicts Bitcoin price to make an all time high of $100,000 with reference to the upcoming Bitcoin halving which takes place on April 19th, 2024 Click here to read more on Forbes Bitcoin prediction 2024
NASDAQ predicts bitcoinnprice to hit $100,000 Click here to read more on NASDAQ Bitcoin price prediction 2024
On the other hand, Euronews predicts Bitcoin price to hit $88000 stressing the fact that halving will lead to lower supply of Bitcoin which will eventually make the price rise to $88000 before falling within the $77000 Click here to read more on Euronews Bitcoin Price Prediction 2024
Finally, Coinpedia predicts Bitcoin price to hit $120000 in 2024 on the condition that Bitcoin rally stays above $40000. Emphasis on Bitcoin halving, Click here to read more on Coinpedia bitcoin price prediction 2024
Consequently, most Bitcoin price prediction for 2024 makes emphasis on the incoming Bitcoin halving which will lead to low supply of Bitcoin that will eventually lead to the rise in price of Bitcoin. Nevertheless, investors are advise that these are predictions and does not guarantee that Bitcoin price will gain value.