Bitcoin halving, which the market has been eagerly awaiting, has finally happened. According to MicroStrategy founder Michael Saylor, there will be a huge increase in BTC price after the halving. In this context, Saylor made important statements about the correlation between halving and BTC price. Now the situation turns to how events developed after the previous halving in 2020. Meanwhile, a popular analyst says there is room upside for the leading cryptocurrency.
Michael Saylor broke his silence after Bitcoin halving!
cryptokoin.comAs you follow from , Bitcoin’s halving event has finally happened. After this, Michael Saylor, founder of MicroStrategy business intelligence giant, shared his views. Saylor hinted that Bitcoin’s price will see a huge increase after the fourth halving. To support this, Saylor reminded that the BTC price was $8,618 after the last halving. In this context, he predicted a similar increase after this halving.
Indeed, Bitcoin reached an all-time high of $69,000 in November 2023. It then hit a new historical price peak in March of this year. BTC investors and traders take Saylor’s statements into consideration. Because after the halvings in the past, the BTC price increased significantly and reached new peaks. Therefore, Saylor and other Bitcoin investors predict that this event will have a positive impact on prices. When the halving took place, Saylor shared a celebratory post, “₿840,000 Reality Lock.” said.
Gold or Bitcoin?
Currently, Bitcoin is trading near $64. BTC is up nearly 800% despite all the major fluctuations seen over these four years. VC investor and major Bitcoin advocate Anthony Pompliano told CNBC this week that Bitcoin is up about 40% so far in 2024.
Meanwhile, BTC’s physical rival, gold, has seen an 11% increase in the last five years. Additionally, gold is up nearly 7% so far this year. Pompliano concluded that those who held gold had lost purchasing power in the last five years. Therefore, Pompliano argued, gold’s status as an asset that maintains purchasing power has been fundamentally disproved.
Analyst: BTC has not yet seen the enthusiasm in the current cycle!
Popular analyst Ali Martinez updated his perspective on Bitcoin (BTC). The analyst says the leading cryptocurrency still has room to move upwards in the current bull market. In this context, the analyst said, “Every Bitcoin bull cycle goes through an euphoric phase that marks the top of the market. BTC has yet to see this enthusiasm in the current cycle!” says.
Martinez also notes that more than 27,700 BTC, worth approximately $1.72 billion, flowed into savings addresses when BTC fell below $63,000 this week.
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