Bitcoin price prediction 2025-2030: How will upcoming halving affect BTC performance?
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Loading... - Magdalene Appiah
- 15 Feb 2023
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Experts in the cryptocurrency market are attempting to predict where Bitcoin (BTC) will go in the next months and years, especially as the leading digital asset has climbed back above the the $20,000 psychological threshold since the beginning of 2023.
The next halving event for the flagship digital currency is scheduled for 2024 and is one of the events that might dramatically ‘push’ the price of Bitcoin, according to many experts and proponents, which could have a considerable impact.
Bitcoin’s fourth halving event, or the fourth protocol-designed 50% reduction in block rewards happens every 210,000 blocks or around every four years. By estimation, the next halving event will occur around May 4, 2024, when Bitcoin reaches 840,000 blocks.
Why investors are bullish for the next Bitcoin halving
Following the third halving event on May 11, 2020, miners have been paid 6.25 Bitcoins for each Bitcoin block mined. With an average of 144 blocks generated every 24 hours, this equates to roughly 900 Bitcoin being issued and rewarded every day.
By design of the Bitcoin blockchain, this reward will be “halved” and reduced to 3.125 BTC per block at the fourth halving event. If the average number of blocks mined each day stays around the same, then about 450 BTC will be created each day.
When attempting to forecast how Bitcoin’s price will move in the future, history may be a valuable tool for determining the future direction of prices, which is particularly true when taking into account the fact that Bitcoin’s value has increased by almost 1,000 times since the initial halving.
In this line, Finbold analyzed industry experts on their Bitcoin outlook and fundamentals likely to define the asset’s performance looking to 2025 and beyond. Read More…
