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Bitcoin Price Will Rise Infinitely In 2024: [Spoiler Alert]

This signifies a 1,250 percent increase from the current Bitcoin price. Digging into historical data, the report emphasizes bitcoin halving has consistently driven the upside for its price. New Prediction, Bitcoin Price Touches USD 400.000 at Halving 2024.

Blockware Solutions analysis predicts that the price of Bitcoin can touch USD 400,000 at the 2024 Bitcoin Halving. The impending drop in mining rewards, coupled with reduced supply on exchanges, might trigger an unprecedented spike in prices, even beyond the previous halving cycle.

In terms of numbers, Blockware estimates the halving will generate over USD 2 billion in annual sales from miners. If bitcoin hovers around the $35,000 mark before the halving, the next 12-fold jump could translate to a price tag of $420,000 per bitcoin. The matching potential gold market cap of USD 12 trillion was also highlighted.

“A firm timeline of Bitcoin issuance implies demand fluctuations are not matched by supply response, suggesting a spike in demand post-halving may be very large,” said the report, quoted from, Friday (25/8/2023).

bitcoin price halving

Post Halving. The report also underlined that post-halving, miners' retreat is likely to shift a more significant supply of bitcoins to long-term enthusiasts, strengthening profitability for advanced miners, thereby alleviating selling pressure. While the expected effect of the 2024 halving echoes that of its predecessors, this round may have a more bullish tone, reinforced by dwindling foreign reserves and initial moves by investors.

“There will be less BTC available than in previous cycles, this being the first halving ever,” the report commented on the exchange's dwindling stock.

Bitcoin's unique nature of fixed supply, decentralization, and unwavering transparency is pointed to as the driving force behind its soaring adoption and price trajectory. The guaranteed reduction in miner sales after 2024 by half further reinforces bitcoin's bullish narrative.

“Even if block subsidies are halved, mining will likely continue to be the best way to accumulate large amounts of BTC in the future,” the researchers at Blockware Solutions concluded.

Disclaimer: Every investment decision is in the hands of the reader. Study and analyze before buying and selling Crypto. This page is not responsible for profits and losses arising from investment decisions.

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