Nyeeee I dont think sooo.. $340,000 USD for 1 BTC is too much and too early. Possible price it may reach next year will be at $50,000 USD basing from my speculation. Going up 2800% next year is just damn too crazy. Reaching $50,000 will make people start selling already. Imagine the market capitalization if BTC price reaches $340,000 USD.
Nyeeee I dont think sooo.. $340,000 USD for 1 BTC is too much and too early. Possible price it may reach next year will be at $50,000 USD basing from my speculation. Going up 2800% next year is just damn too crazy. Reaching $50,000 will make people start selling already. Imagine the market capitalization if BTC price reaches $340,000 USD.This forecast is more realistic. Charts and diagrams are one thing, but the realities of life are completely different. If by the end of next year bitcoin rises to $ 50,000 and does not fall back sharply, as in the first half of 2018, then the price effect of the halving of bitcoin can be considered. The bitcoin price of $ 340,000 is completely unrealistic.
If you have been in crypto since 2016, you will know better than any noobs when they try to make unnecessary price predictions. I mean, how can you sit in one corner and say unrealistic things just for craving attention.Bitcoin Will Hit $340K if BTC Price Repeats 2016 Halving Cycle PatternA look at the difference between halving cycle highs, lows and halving prices delivers huge BTC price targets which their creator cautions are “hopium.” Bitcoin (BTC) needs to hit $340,000 just to match its performance from its last halving... See more for yourself here (https://cointelegraph.com/news/bitcoin-will-hit-340k-if-btc-price-repeats-2016-halving-cycle-pattern).
Your opinion is greatly appreciated.
Halving is an overrated factor relative to the price of Bitcoin. The real factor for the rise of Bitcoin is more adoption by the people, the coming in of institutional money, recognition by many governments and its continuing innovations in the face of many challenges. Sure, halving can be a synthesis or something that can push but as we are seeing now it is not that powerful anymore. Halving is on the side of supply, but we are already sure that there is only 21 million of the coin that can come into circulation, halving or not that number is already fixed. Plus we know that only around 30% of the available BTC are openly traded most of the coins are being held for the long-term, not to mention what Satoshi Nakamoto is holding.yes, halving and market demand will determine this moment, if one of them is not there, it will be in vain,
Personally, I will not expect that very high ATH to reach by Bitcoin in these years. Yeah, if it is always following the pattern of the previous halving, it may be. But not now or even 5 years currently. It may need to reach by 10 years later, probably? I am not a good person in predicting. But expecting $340K is very high expectation and not all people are ready for the truth.You don't have to predict, you can express your opinion about the price of bitcoin in 2021, a lot of analysis is used to do that, and the results are different, and that's what many people are looking for, lots of sources and can be used as references.
We can predict something but it's true that the halving will change the price for sure. This data help us to know how the price been changed on the past. However we are expecting that the price will move positivity and hit the new ATH level once again.
I have details that might be used as a comparison for those who want to analyze well;
Halving 1
November 28, 2012
Highest price 2013, November $ 1,127
Halving 2
9 July 2016
2017 high, December $ 19,665
Halving 3
12 May 2020
Highest price (estimated 2021)
now is it true that the third halving will be able to change bitcoin or even decrease, but usually after the halving there will definitely be a change.
The price of bitcoin in the past changed so fast because the demand was very high, now there are so many altcoins that the possibility of market demand for bitcoin will decrease,We can predict something but it's true that the halving will change the price for sure. This data help us to know how the price been changed on the past. However we are expecting that the price will move positivity and hit the new ATH level once again.
I have details that might be used as a comparison for those who want to analyze well;
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now is it true that the third halving will be able to change bitcoin or even decrease, but usually after the halving there will definitely be a change.
After the first halving of the reward to miners in 2012, the price of bitcoin has increase a hundred times. After the second cut in half in 2016, the price of bitcoin has risen thirty times. This time, after about a year, the price of bitcoin is supposed to rise tenfold to about one hundred thousand dollars.Increasing the price of bitcoin even to one hundred thousand dollars also seems dubious to me, not to mention the price of 340,000 dollars. It is hardly possible to rely only on graphs and diagrams here. After all, this is a market where supply and demand work. The bitcoin holders themselves will not allow bitcoin to soar in value. They will dump their bitcoins whenever the price rises sharply, and therefore its price will fall.