Halving Hype
As the Bitcoin halving approaches, Bitwise CEO Hunter Horsley believes it could push prices to $100,000 or higher. Historically, halvings have led to significant price increases, and Horsley expects this time to be no different.
Underestimated Impact
Horsley believes the halving is currently underestimated. Despite past halvings driving Bitcoin prices up by 5.4x, 2.8x, and 88x, the market has not yet priced in this event.
Demand and Supply
For the halving to have a major impact, there needs to be a sustained increase in demand alongside the decrease in supply from natural sellers. Horsley anticipates this demand growth, setting the stage for a substantial price surge.
No Man’s Land
As the halving nears, Bitcoin has entered “No Man’s Land,” according to analyst Cold Blooded Shiller. Price action is unpredictable until one of two green zones on his chart is reached.
RSI Reset
Shiller notes that the Relative Strength Index (RSI) is currently resetting on the Higher Time Frame. While he doesn’t expect the same outcome as in January, it’s possible that a lack of recovery could lead to further losses.
