The Closer is the Halving, the Bigger are Bitcoin Price Predictions
With Bitcoin halving expected to happen in May, blockchain community members are actively discussing whether it could level the BTC price up from its current bearish position.
There is almost no doubt that Bitcoin halving, that means the cut in miners rewards in half, will immediately make BTC a more scarce asset, adding to a temporary price surge.
But bullish traders have more optimistic views, suggesting that temporary could lead to the asset reaching new levels. According to the famous trader who goes under the name “CryptoWolf”, Bitcoin price will reach $16,000 level already by this June, just two months after the halving event.
This would be almost double the price from its current level – quite a substantial increase. But, comparing to other bulls, this prediction seems modest. With John McAfee predicting $1 million price by the end of the year, even Tim Draper’s bet on $250,000, does seem modest.
Whether the price rockets or plummets, the Bitcoin halving will still likely to become a major blockchain event, influencing the market long after it happens.