Crypto analyst says Bitcoin could triple in price to $63,000 before next BTC halving
The popular cryptoanalyst and host of the InvestAnswers YouTube channel says that Bitcoin (BTC) could easily go on a 3x rally before the next halving event.
In a new strategy session, the analyst tells his 444,000 YouTube subscribers that strong BTC rallies usually precede Bitcoin halvings, an event where miners’ block rewards are halved, therefore crushing future supply.
According to the analyst, historical priority based on the halving dates places BTC around the $63,000 level by March 2024, which would be more than a 200% gain from today’s prices.
“Historically, Bitcoin starts increasing 15 months before the next halving. The next halving is expected in April or May 2024 – many rumors flying around it could happen in December 2023, depending on the actual timing of bocks if it goes to less than 10 minutes .I’m still sticking to the April, 2024 time frame.
November 2022 is 15 months away from this halving date…Bitcoin tends to close 39% from where it was trading 24 months before the halving and that would mean March 2022 at $45,538 times one plus 39% [($45,538* (1+39%)]… That should take us to $63,160 by March 2024.
And remember, that’s not the end of it. After the halving, the real action happens. But before that, there is a run. So just think about it. Fifteen months from now is a little more than a year and a quarter, not long. Bitcoin can triple and can do a lot more after that.”
At the time of writing, BTC is changing hands at $20,507, flat on the day.
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