Could Bitcoin reach $220,000 within the next halving?

Could Bitcoin reach $220,000 within the next halving?

The Bitcoin (BTC) block subsidy halving is a highly expected event by Bitcoin investors that happens approximately every four years (210,000 blocks).

Essentially, with the reduction of Bitcoin’s supply inflation by half, many analysts foresee a price increase for the leading cryptocurrency after the halving. These projections are all based on BTC’s past performance, from which analysts may have divergent opinions.

It is important to understand that past price action will not necessarily be repeated in the future, as many factors directly influence an elastic demand. Nevertheless, previous patterns could offer valuable insights for financial forecasts.

Bitcoin Archive price forecast at $220,000 per coin

Interestingly, Bitcoin Archive is forecasting Bitcoin will trade above the $220,000 mark over the next 18 months. Its forecast is based on Bitcoin’s last halving surge of six times the traded price 12 months after the reduction, crossed with BTC price at $37,183 by the post time.

Considering the latest reduction ratio of a pump five times lower than its previous one, ChatGPT-4 expects Bitcoin’s price to multiply by 1.2 times after the 2024 halving. In particular, BTC could reach $44,619.60 in 18 months, using the same starting point of Bitcoin Archive at $37,183 per coin.

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