Tether co-founder William Quigley said Bitcoin could potentially surge to $300,000 at the peak of the current bull market, based on historical patterns of past halvings.
He shared the insight during an interview with CNBC, where he discussed the market conditions influencing Bitcoin as the halving approaches. Quigley clarified that his analysis is not a prediction but a possibility if historical patterns hold true.
He said:
“If you applied the historical patterns, it would suggest Bitcoin being in excess of $300,000 at the peak of this next bull market.”
The next Bitcoin halving is expected around April 18 and is set to cut the Bitcoin mining reward by half to 3.125 BTC from 6.25 BTC. This will effectively reduce the daily supply to 450 BTC from 900 BTC.
Stronger fundamentals
Quigley argued that Bitcoin stands on stronger fundamental grounds now than before the last halving in May 2020. He said the advent of spot Bitcoin exchange-traded funds (ETFs) and a surge in derivative volum
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