- While excitement surrounds the approval of a spot Bitcoin ETF, traders and investors are anticipating another significant event in 2024 – Bitcoin Halving.
- Historically, after Bitcoin Halving, the BTC price tends to follow a steady upward curve aiming for the next all-time high range within months.
- Based on price history models before and after halving events, the current cycle of BTC price may likely experience a bullish run in 2025.
Amid expectations for a spot Bitcoin ETF, attention is also turning towards halving: Will halving boost the BTC price?
Countdown to Bitcoin Halving
While excitement surrounds the approval of a spot Bitcoin ETF, traders and investors are anticipating another significant event in 2024 – Bitcoin Halving. The Halving event, occurring every four years in the blockchain, signifies the halving of block rewards. This time, the event is expected to take place in the second quarter of 2024, likely around April 19, 2024.
Historically, after Bitcoin Halving, the BTC price tends to follow a steady upward curve aiming for the next all-time high range within months. This scenario repeated after the first halving event on November 28, 2012, the second halving event on July 9, 2016, and the third halving event on May 11, 2020.
Approximately 18 months after the last Halving event, the BTC price reached an all-time high of $69,000. In the current range of $44,000, the top cryptocurrency would need about a 30% increase to reach a new all-time high, which may be possible considering the possibilities of a spot Bitcoin ETF approval.
Will the BTC Price Reach a New All-Time High in 2025?
Based on historical price patterns before and after halving events, the current cycle of BTC price may likely experience a bullish run in 2025. Interestingly, this timeline could support significant institutional inflow into the Bitcoin ETF space by 2025. Therefore, the $100,000 Bitcoin (BTC) price target forecasted by Standard Chartered by the end of 2024 does not seem too far-fetched.
