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Historical data from previous halvings suggest that the full impact of these events on Bitcoin's price unfolds over the course of several months to a year. The halving often provokes speculative trading cycles, with investors initially driving up prices in anticipation of tight supply, potentially leading to short-term bubbles followed by corrections.
This time, as well, the newly reduced rate of Bitcoin mining can be expected to lead to sustained higher valuations in the long term as the supply of coins becomes more limited. From a strategic standpoint, I anticipate that Bitcoin will achieve a valuation of $100K within the next six months, with a more immediate target of $80K within three months.
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Bitcoin price falls below $65k: consolidation or pre-surge dip?
The longer-term effects on Bitcoin’s supply, demand, and price are still accumulating.
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May 23, 2024
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Commentary
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Historical data from previous halvings suggest that the full impact of these events on Bitcoin's price unfolds over the course of several months to a year. The halving often provokes speculative trading cycles, with investors initially driving up prices in anticipation of tight supply, potentially leading to short-term bubbles followed by corrections.
This time, as well, the newly reduced rate of Bitcoin mining can be expected to lead to sustained higher valuations in the long term as the supply of coins becomes more limited. From a strategic standpoint, I anticipate that Bitcoin will achieve a valuation of $100K within the next six months, with a more immediate target of $80K within three months.
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