The much-anticipated Bitcoin halving 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 the halving and BTC price. Now the situation has turned to how things developed after the previous halving in 2020. Meanwhile, a popular analyst says there is room above for the leading cryptocurrency.
Michael Saylor broke his silence after the Bitcoin halving!
As you have been following on Kriptokoin.com, Bitcoin’s halving event finally took place. Following this, Michael Saylor, founder of business intelligence giant MicroStrategy, 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 on November 2023. It then hit a new historic price peak in March of this year. Saylor’s statements are being taken into account by BTC investors and traders. Because after the halving in the past, the BTC price has increased significantly and reached new highs. Therefore, Saylor and other Bitcoin investors predict that this event will have a positive impact on prices. When the halving took place, Saylor said in a celebratory post, “₿840,000 Real Lock.”
Gold or Bitcoin?
Currently, Bitcoin is trading near $64. BTC is up nearly 800% over these four years, despite all the massive volatility. VC investor and big Bitcoin advocate Anthony Pompliano told CNBC this week that Bitcoin is up about 40% year-to-date through 2024.
Meanwhile, BTC’s physical rival, gold, has seen an 11% increase over the past five years. Gold is also up about 7% so far this year. Pompliano concluded that gold holders have lost purchasing power over the past five years. Therefore, Pompliano argued that gold’s status as an asset that preserves purchasing power has been fundamentally debunked.
Analyst: BTC has yet to see euphoria in the current cycle!
Popular analyst Ali Martinez updated his outlook on Bitcoin (BTC). The analyst says that the leading cryptocurrency still has room to move upwards in the current bull market. In this regard, the analyst said, “Every Bitcoin bull cycle goes through a euphoric phase that marks the top of the market. BTC has yet to see this euphoria in the current cycle!”
Martinez also notes that more than 27,700 BTC worth about $ 1.72 billion flowed into savings addresses when BTC fell below $ 63,000 this week.
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