Post-Halving Surge
With the recent halving event, analysts predict a bull run for Bitcoin based on past trends. Crypto analyst ecoinometrics believes Bitcoin could reach six figures in the current cycle.
Potential Price Range
According to ecoinometrics, if Bitcoin follows similar growth patterns as previous cycles, it could trade between $140,000 and $4,500,000. This range is based on historical price gains after halvings in 2012, 2016, and 2020.
Realistic Expectations
While some speculate that Bitcoin could reach $4,500,000, ecoinometrics acknowledges that this may be unrealistic. However, they remain confident in Bitcoin reaching a mid-six-figure value.
Current Market Overview
As of writing, Bitcoin is trading at $65,043 with a modest 2.21% gain over the last 24 hours. However, trading volume has declined, indicating decreased market activity. Over the past week, Bitcoin has gained 1.86%, but the monthly chart shows a 4.16% decline. Despite recent fluctuations, Bitcoin’s year-to-date growth remains impressive at 131.69%.
