Now that Bitcoin Exchange-traded funds (ETFs) for spot bitcoin are live in the United States, investors are waiting for the next possibly favorable event that will boost the crypto market.
It is expected that the next Bitcoin halving will occur in April 2024. Block rewards are expected to drop from 6.25 BTC to 3.125 BTC. The upcoming bitcoin halving, which will reduce the number of new bitcoins distributed to miners, is now anticipated by many analysts to act as a comparable upward trigger for cryptocurrency prices.
With optimism surrounding the crypto market, many altcoin projects are ready to moonshot. BTC reached a new all-time high during the bitcoin halving in 2020. Resultantly, there was a comparable surge in the whole crypto market.
Leading Analysts Predict that Bitcoin Will Hit an All-time High of $150K
Tom Lee, who is the head of research at FundStrat, has predicted that Bitcoin (BTC) may reach $150,000 within this year. Despite a slight decline over the previous week, Lee remains optimistic about his forecast. He explained to CNBC that the demand for Bitcoin is improving with the launch of new ETFs while the supply is decreasing with the halving.
Lee made these remarks when the price of Bitcoin rose by 35% in the last two weeks, reaching $53,000. However, the price was falling and was trading at $50,900, showing a decline of 1.8% in one day. Despite this, it was performing slightly better than the CoinDesk20 Index, representing the entire market, as the index fell by 3% during the same time frame.
Another prominent analyst, Yusko predicts that Bitcoin will reach its peak in June, two months after the halving event in April that will reduce the mining rate of new Bitcoin. He calls this period the “crypto fall,” marked by increased excitement and FOMO (fear of missing out). Yusko believes that these factors will cause the price of BTC to surge to $150,000.
Algotech is Perfectly Positioned to Give Massive Gains As Bitcoin Halving Approaches Near
A positive impact on BTC prices can cause a surge in the overall crypto market. Investors are looking towards avenues with promising potential to give 10x gains. Algotech (ALGT) has emerged as a significant choice thanks to its unique TradFi proposition.
Despite being just 12 days into launch, the project has managed to surpass all expectations
with a massive $1.1 Million private seed round. The launch of the Stage presale has
garnered significant market interest as investors look beyond conventional AI assets.
For crypto enthusiasts and DeFi investors, Algotech (ALGT) is the project that offers the
most exciting growth prospects. The innovative technology and cutting-edge use cases will
continue to become more relevant as demand for advanced trading tools increases.
Due to the project’s outstanding performance at the start of 2024, Algotech has sold out its presale Stage 1, and the token price is now $0.06. This will increase to $0.08 in the next round. Analysts predict Its value to reach an all-time high of $1, indicating a significant rise of 300% in the earnings of early investors due to increasing activity in the crypto market.
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