Bitcoin (btc) has a target of $250,000 after its next block grant is halved, but new all-time highs will come sooner.
That is the latest BTC price prediction from BitQuant, the popular social media commentator who sees a promising future for the largest cryptocurrency.
BitQuant: Pre-halving all-time high will not be the maximum BTC price
In his latest post on X (formerly Twitter) on September 15, the pseudonymous โcentral banker and Bitcoinerโ revealed a pre-halving target above $69,000.
โNo, Bitcoin will not peak before the halving,โ he wrote in part of the comment.
"Yes, it will reach a new all-time high before the halving."
Bitcoin has just over six months before the halving, the event that reduces miner rewards earned per block by 50% every four years.
Analysts argue that the resulting emissions restrictions have a cathartic impact on BTC price performance, acting as a springboard of sorts before Bitcoin reaches new all-time highs.
For BitQuant, however, that alone is not optimistic enough. Not only will Bitcoin surpass its current record, set in 2021, before next April, but it will reach $250,000 per coin after the next halving cycle begins.
"No, BTC is not going to reach $160,000 because the magnitude of each pullback is large," he continued.
"This means it will peak after the halving, in 2024. And yes, the price target is around $250,000."
Bitcoin Traders Diverge Over Price Halving
As Cointelegraph reported, market participants are sharply divided as to how BTC price action will play out to the halving and beyond.
Related: Wen moon? Bitcoin Halving Cycle Hints at Q4 as Smart Money 'Buys the Rumor'
Some agree that it is possible to reach higher levels by April, but many conservative voices persist.
Last month, Bitcoin investor and author Jesse Myers dispelled any ideas that BTC/USD will trade at six figures between now and then.
Meanwhile, in a subsequent interview with Cointelegraph, Filbfilb, co-founder of trading suite Decentrader, gave a pre-halving estimate. BTC price peak of $46,000.
โAssuming no black swan, around $35,000 by the end of the year and possibly up to $46,000 sometime before the halving in the first quarter of 2024,โ he said.
Bitcoin was trading at around $26,400 on September 15, up 1.3% in September so far, according to data from the monitoring resource. glass coin.
This article does not contain investment advice or recommendations. Every investment and trading move involves risks, and readers should conduct their own research when making a decision.
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