Bitcoin Will Hit $340K if BTC Price Repeats 2016 Halving Cycle Pattern

[debra]

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.

[ayatoslaw]

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.

[saprakib]

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.

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-Bit]

It is so high price rate by the way. And what years the price will probably hit? In this case, I personally will not expect too much on the price rate of BTC. To reach its ATH this year is very great for me. And of course, if it follows the cycle of halving, it may be different, but it is so high.

[ayatoslaw]

I have details that might be used as a comparison for those who want to analyze well;

- snip -

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.

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.

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,
but that doesn't mean bitcoin won't reach new highs, there is still a possibility for bitcoin, it's just that it will take large volumes for bitcoin to go further.

[I-Bit]

I will say that we should not expect too high on BTC. The change in the price is reasonable and not significant enough. Moreover right now, the free transaction is high so that many will not convert into ETH. Here, about the price of BTC, will it really hit that $340k? I think it is impossible right now or around 3 years later. Too high

[Delgado]

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.

[Alcor]

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.
Of course, no one can know how it will be this time. The rise in the price of bitcoin should be, but within what limits?

[Astra]

The last time after the halving in 2016, Bitcoin rose in value by December 2017 to $ 20,000, and then fell to almost $ 6,000. The bitcoin holders who are wise by this experience will no longer just expect its growth, they will periodically sell part of their bitcoins in order to fix profits. Therefore, one should hardly expect the rapid and continuous long-term growth of bitcoin. Most likely, it will rise in price abruptly, constantly decreasing in price. With such a growth, it is impossible to achieve large price values.

[Black ID]

I think the Bitcoin price will only reach its highest price for the 2021 period. Just like the 5 year system that happened twice before. Based on the calculation, it means that in 2021 there will be another massive increase in bitcoin prices.

[pornflixandchill]

Well, that price is still far away from today's price.

Not sure what the future price of BTC is, but one thing for sure, there will be mass adoption for cryptos.

[ttcsalam]

I don't think so.This is not possible this year.I think the US election could have some effect.Because there are a lot of big investors inside America.