Bitcoin Price Expected to Surge to $115,000 in 2024, According to Crypto Analysts
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Bitcoin Price Expected to Surge to $115,000 in 2024, According to Crypto Analysts

Bitcoin experts anticipate a surge to $115,000 post-halving in 2024, backed by historical data analysis.

2024 is Bitcoin’s year, according to industry experts who are eyeing the eagerly anticipated halving event that will lead to a massive boom in its price. The historical data from 2016 and 2020 halvings shows average price surges of 400% within a year, heightening expectations for a Bitcoin worth as much as $84,145 just three months post-halving and even a terrifying $361,152 in twelve months’ time, as per CoinLedger’s investigation.

For every 210,000 blocks mined, the block reward halves during what is referred to as halving. Due to this reason, there has always been an increment in value of the initial cryptocurrency.

To enumerate these facts further, by early September 2016 just three months after the previous splitting; it had increased by 10.99%. This was almost one third higher than its market value in December the same year before going down to about one fifth below till July 2021 thereby showing predictable figures demonstrating a high correlation rate between these two events.

The upward trajectory persists six months down the line, with Bitcoin’s price historically climbing 51.57% and 83.17% in 2016 and 2020 respectively. If we extrapolate these numbers we will have approximately $115733 for half a year after this bitcoin reducing process in future years (the second part of this sentence was not very clear).

After every year astronomical gains have been recorded with an unprecedented gain of (8000%) witnessed in (2012) and an average increase at (423%)for both (2016)and(2020). However caution can be exercised especially when urge towards irrational exuberance .Therefore it calls for logical sense while investing that entails thorough research prudence and adhering within one’s risk appetite.

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