BTC might reach $60,000 if all these works.

As I write this article, BTC is valued at ~US$52,000. It’s a short push to $60,000 given that halving is only 2 months away.

Let’s discuss what it will take for BTC to hit that $60,000 mark and we can all go to the moon together!

$100,000 Bitcoin after halving?

What is BTC halving?

It's an event where the reward for verifying transactions on the Bitcoin network gets cut in half, roughly every four years. Only 21 million Bitcoins are ever created, and halving helps control how quickly they enter circulation.

Why Does BTC Halving Matter?

• Scarcity: By reducing the rewards, halving makes Bitcoin even scarcer, which, in theory, could push its price up if demand stays the same.

• Predictability: The halving schedule is built into the Bitcoin code, so everyone knows when it's happening and how much the reward will decrease. This can influence investment decisions as some believe price increases follow halvings.

BTC Price after Halving

If we look at the past record of BTC prices after the halving, we can probably estimate some figures (But these are all estimations)

1st Halving:

• 28th Nov 2012, Block rewards were reduced from 50 BTC to 25 BTC.

• Price at halving: $13

• Following Year’s Peak Price: $1,152

2nd Halving:

• 26th July 2016, Block rewards were reduced from 25 BTC to 12.5 BTC

• Price at Halving: $664

• Following Year’s Peak: $17,760

3rd Halving:

• 11 May 2020, Block rewards were reduced from 12.5 BTC to 6.25 BTC.

• Price at Halving: $9,734

• Following Year’s Peak: $67,549

4th Halving:

• Estimated Date: 20th April

• Price at Halving: ???

• Following Year’s Peak:???

From the historical records, we can see that after each halving, there was a huge price movement which pushed Bitcoin’s prices up in multiple-folds. From $13 to $1,152 that’s a 100x jump, from $664 to $17,760 that’s a 26x jump, from $9,734 to $67,549, that’s a 6x jump.

After each halving, we can see that the price jump gets smaller and smaller with each halving. This means that when the next halving comes in April 2024, this might give us a 2-3x jump from the current prices that Bitcoin is at.

Difference between each halving

But before you go all in and purchase Bitcoin, we need to dive deeper into each halving. During the 1st halving, no one knew what Bitcoin was nor did they know how to purchase it. Therefore, when the halving took place, people who knew what Bitcoin was started purchasing more.

In the 2nd halving, Bitcoin and Crypto took the limelight in the media. This was when ICO and Altcoins were born and some ‘new’ money flowed into the market. Which led to scams, rug pull and many failed crypto startups.

The 3rd Halving took place during Covid. Everyone was kinda depressed and stocks were at all-time lows. But this was also a time when major companies like Microstrategy and Tesla publicly announced that they were holding part of their company funds in Bitcoin.

These announcements, led to investors and traders from the traditional finance space to pour money into Crypto because it seemed more legitimate since major companies from the S&P500 were starting to buy Bitcoin.

$100,000 Bitcoin?

Come to the halving date, I feel that there won’t be much price movement because institutional investors have already started buying Bitcoin and the halving is sort of ‘priced-in’.

But I’m optimistic that Bitcoin will finish the year at a 6-digit mark or somewhere close that 6-digit mark.