Tag: bitcoin price after halving

CryptoQuant CEO Predicts Bitcoin Will Become a Currency by 2030

Summary

CryptoQuant CEO Ki Young Ju believes Bitcoin will become considerably stable and less volatile by the next halving event in 2028, making the way for mass adoption. He also states the growing difficulty of Bitcoin mining and large institutional involvement may reach a point in future where Bitcoin will be used as a currency, he predicts this to happen by 2030.

Rising Mining Difficulty: A Positive Sign

The difficulty of mining Bitcoin has skyrocketed by 378% over the past three years, according to the data provided by CryptoQuant. Ki Young Ju, A CEO said that this surge is due to entry of large scale mining companies, backed by institutional investors.While this has made things difficult for small miners to compete but he views this as a positive development, suggesting it will lead to something greater providing stability in Bitcoin ecosystem.

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Institutional Influence in Bitcoin Mining

This institutional power is being driven by significant Bitcoin mining firms like Riot Platforms, Marathon Digital, and CleanSpark. In order to help pro-crypto candidates, these businesses recently established a political action committee and started a $2 million digital advertising campaign in strategic states. The crypto mining company TeraWulf also revealed plans to raise $350 million to fund its operations, underscoring the expanding significance of institutional investors in the Bitcoin market.

Bitcoin as Currency by 2030

Ju thinks that Bitcoin will be sufficiently developed to function as a low-volatility currency by the time of the 2028 halving event. He highlights that Bitcoin was initially intended to be “peer-to-peer electronic cash,” not merely a store of value, as Satoshi Nakamoto had intended. Ju believes that by 2030, stablecoins and more regulation will allow Bitcoin to play this role.

Bitcoin Miners Divided: Holding Bitcoin or Invest in AI?

Summary

The crypto mining industry has split into two and confused on which side to go with. After the recent halving event of Bitcoin many miners have shifted to AI in hopes of increasing stocks while there is a major portion still holding onto bitcoin.

The halving event that occurred six months ago has made reward for bitcoin miners 3.125 BTC, which is very little compared to what it could reward in prior years. A halving event occurs in order to prevent inflation and stabilize the coin in the market. It reduces the number of bitcoins entering circulation. As the supply decreases, halving events have historically led to increased demand and price appreciation. This is the reason why people are still holding onto it.

Meanwhile people who have left bitcoin and invested in AI are experiencing immediate gain. Core Scientific got out of bankruptcy after shifting its focus to AI by upgrading data centers to handle high performance computing. Similarly TeraWulf’s stock has become more than double after investing in AI data centers. This shows how investing in AI right now might be the right choice but many speculate bitcoin will take over in the long run.

An another portion of miners are holding onto bitcoin to avoid losses, if they leave the shares stay afloat and sell at the correct time. This uncertainty and splitting of miners has created buzz over the internet, each path carries risk but each option also allows miners to maintain profitability while they wait for Bitcoin’s next bullish cycle.

Learn about Bitcoin’s role in shaping the future of Defi here.

Bitcoin Rally Nearby As 18th Week After Halving Coincides With Fed Rate Cut

Bitcoin’s price has the potential to cross $100,000 mark in this 4th cycle. But the market always does the opposite of what the crowd thinks of.

Screenshot 2024 08 30 at 9.30.03 PM 1 BitMala

What happened during previous halvings?

  • 2016: For 18 weeks, $BTC was volatile ranging from $670 to $470 (-31%)
  • 2020: For 18 weeks, $BTC was less volatile ranging from $9,500 to $8,500 (-11%)
  • 2024: For 18 weeks, $BTC is volatile ranging from $71,500 to $49,500 (-31%)

$BTC price actions are painful after 4th Halving Event (April, 2024) resembling with 2nd Halving Event (July, 2016). It was painful during Q3 of 2016 just like it is happening now. But the buyers of 2020 period will not understand this as they did not suffer like this.

Price of $BTC at halving is usually marked as lowest price of Bitcoin before mega rally. Will this be true this time?

We’re at 18th week after the 4th halving event. Fed meeting is happening just 3 weeks from today. And there is a high probability of the Fed cutting the rates. Rate cuts make money available in the market more easily. Even though the history of rate cuts shows bearish price action at the beginning, it eventually triggers the mega bull trends.

Bitcoin’s weekly stochastic RSI is sitting at 20 and has enough room for move towards 80. This movement can break 6-digit price for the first time for Bitcoin.

  • Momentum is signaling for $100k
  • Fed rate cut is signaling for $100k
  • History of PA is signaling for $100k

Do you think $BTC will be above $100,000 before 2025?

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