Bitcoin (BTC) could rally 160%, hitting $150,000 14 months after the halving takes place, according to analysts’ predictions in the latest edition of the Bitfinex Alpha report.
Bitfinex used a simplistic and straightforward regression model that projects diminishing returns by analyzing the effects of previous halvings on the price of BTC. However, this model did not consider BTC reaching a new all-time high pre-halving; hence, the cryptocurrency’s post-halving price increase may exceed 160%.
The Upcoming Halving Event
The halving occurs every four years or after 210,000 blocks and is currently slated for April 20. The mechanism slashes Bitcoin block rewards by 50% and will reduce the current figure from 6.25 BTC to 3.125 BTC. It decreases the rate at which new coins are produced to ensure a diminishing supply over time.
Historically, bitcoin’s value has increased post-halving due to sustained or increased demand, but the level of growth in this cycle may be different due to the
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