The post Bitcoin Halving Prediction 2024: Pantera Capital Predicts BTC Price To Hit $135K appeared first on Coinpedia Fintech News
Pantera Capital, a blockchain investment firm, has boldly predicted that Bitcoin’s price could reach $135,000 after its next halving event. As per the current status, the recent week was tough for Bitcoin, as its price dropped to $26,000, causing significant liquidations in the crypto market.
According to the Sentiments report, the market is in a bearish mode, as there’s a lack of interest from investors in “buying the dip”. In such a scenario, what’s fueling the bullish outlook and what is the reason bitcoin will pump before halving to $35K, Where experts are calling for a lower range of $20K? Let’s dive into the factors leading to the surge.
History May Repeat for BTC? Is $35K Realistic?
Pantera’s predictions have always been backed by historical trends, as per the firm Bitcoin possibly rise to $35,000 before halving and potentially soar to $148,000.
The sentiments are real and they transpired the fact due to favorable XRP ruling and from major financial players like BlackRock. Also, recent Etherium-based ETF approval made it more a obvious choice for investors as a long-term asset. Not only that bitcoin is also favoured by the regulatory firms with lesser scrutiny on the king crypto all eyes are set on Bitcoin Spot ETF Approval.
Understanding Why BTC will Pump if this happens?
Giving a wide glance at Bitcoin’s past innings, the prices were highly volatile it heavily fluctuated
fluctuating between $16,344 and $30,468. While August 2023 saw the BTC coming down to its resistance level of $30K and dropping around $29,044. The cryptocurrency faced ups and downs, including a dip to $16,344 in November 2022 and a recovery to $30,466 in April 2023. Since BTC has the capacity to fluctuate on a higher trajectory it won’t be difficult to touch a mark of $35K before halving if external factors support the king crypto.
On bearish sentiment, one Twitter user said that it can never reach that height.
What to Expect in Halving?
It is notable that, Bitcoin halvings, which occur approximately every four years, historically trigger positive price movements. These events reduce the reward for mining new coins, leading to a scarcity that often results in price surges. The recent positive ruling for XRP’s non-security status and endorsements from institutional investors like BlackRock contribute to a promising environment for a potential bull market in digital assets.
However, it’s important to approach Pantera’s optimistic prediction with caution. The crypto market is extremely volatile and influenced by various factors, including regulations and economic conditions. Past performance does not guarantee future outcomes.
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