Wearing Historical and Future bitcoin Halving EventsThe bitcoin Stock to Flow (S2F) live data chart model has pointed towards btc rising to unprecedented highs during the 2028 to 2032 halvings.
bitcoin to hit $5 million after halving in 2028
crypto analyst Bit Harington recently shared insights in a post on X (formerly Twitter) about potential increases in bitcoin price during the upcoming halving stages. Using bitcoin S2F Chart Data, Harington foretold The price of bitcoin would reach $500,000 in the fourth halving, which will be held in April.
Their predictions were based on the distinctive trend observed in the price of btc, where the first to third halving phase exhibited a constant 10x price increase for each successive halving.
In response to the post, the creator of the S2F model, Plan B, made a bold predictionsuggesting that the average price of bitcoin during the 2028 and 2032 halving events could reach an impressive $5 million.
Cryptocurrency has consistently experienced bullish rallies after each halving eventfrom the first bitcoin halving in November 2012 to the third in May 2020. Because of this, many crypto investors and analysts foresee a similar increase in the price of btc during the halving in 2024.
These expectations could be attributed to events that typically occur during a bitcoin Halving Event. In each halving phase, btc mining rewards are halved and the supply of the token is reduced, inducing scarcity and increasing the value of the token.
While these bitcoin-halving-event-identified-as-a-pivotal-one/” rel=”nofollow”>price projections about bitcoin are made to keep investors alert, it is important to keep in mind that they are still speculation and that models like S2F can be subject to wide margins of error.
<img decoding="async" class="aligncenter size-medium" src="https://technicalterrence.com/wp-content/uploads/2024/02/Bitcoin-at-5-million-The-S2F-model-predicts-when-this" alt="Tradingview.com bitcoin Price Chart (btc)” width=”3266″ height=”1530″ loading=”lazy”/>
btc price struggles to hold $42,000 | Source: BTCUSD on Tradingview.com
Analyst reveals key factors to consider in halving in 2024
Another crypto analyst, Ali Martínez, has revealed four crucial factors to watch as the bitcoin halving approaches in April 2024. Martínez highlighted the importance of post-bitcoin halving price corrections in 2016 and 2020, emphasizing that btc decreased by 30% to 70% within a month after the halving phases.
He also mentioned btc's post-halving rallies, where the cryptocurrency saw significant increases to 700%, 2,850%, and 11,000%, respectively, during the 2012, 2016, and 2020 halving events. The crypto analyst delved into the duration of the bull market after of each halving, which lasted about a year or more.
He concluded his analysis by predicting that the next bitcoin market peak would occur around April or October 2025. At the time of writing, the price of btc was $42,110, according to CoinMarketCap.
Featured image of Dall.E, chart from Tradingview.com
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