In Bitcoin’s 13 years of existence, the crypto king has seen its price grow from a few pennies to almost breaking the $70K ceiling at its peak. Even though the world’s first cryptocurrency is only worth about $16,800 today, historical data suggests Bitcoin’s (BTC) price could very well surpass its old all-time high and even hit the $100K milestone.
Bitcoin’s Halving Event
According to data, crypto analysts anticipate the price to reach $100K in around March of 2024, which is close to the Bitcoin Halving event. Bitcoin’s next halving event is scheduled for block number 840K which happens to be during the spring of 2024. The block reward will supposedly be reduced from 6,25 per block to 3,125 after the next halving.
The uniqueness of Bitcoin lies in its code. The coding behind the largest cryptocurrency by market cap is designed to ensure that the rate of supply expansion slows down over time. And it’s these in-built halving events that have lent an impact on the price of Bit
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