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The simple answer to this question is “because it was designed that way.” Well, but why can’t this limit be extended? Among other things, BTC’s finite supply acts as a deflationary measure and is one of the reasons why Bitcoin’s price is as high as it is. As for why this exact figure was chosen, there are a few theories about it. One states that it’s because the total value of all physical money in the world when BTC was developed was equal to $21 trillion. As a result, if Bitcoin had been then to completely replace fiat, 1 BTC would have been worth $1M, and one satoshi — $0.01. What is bitcoin expected to reach In the years that a halving took place, Bitcoin's price grew by around 125% on average. Should a similar situation unfold this time around, a 125% increase from its price at the beginning of the year would put Bitcoin just shy of the six-figure mark at $99,000.What will bitcoin be worth in 2024
It’s hard to prove a causal connection between the halving (or any other singular factor) and Bitcoin’s price. But due to the historical reliability of this indicator, combined with some fundamental facts about how the network functions, we can make informed inferences. 18 Best Bitcoin Gambling Sites in 2024 – Compare Crypto Gambling Sites Please enable JS and disable any ad blocker
Bitcoin price prediction for 2024 and beyond. Will Bitcoin rise once again?
If this continues, the price of BTC may continue rising into price discovery. Bitcoin’s price Many have speculated that bitcoin’s price will rise in the weeks before and after the event. This is in part because the halving is expected to draw increased attention to bitcoin, but also because it will reduce the supply of new coins entering circulation. However, any price rise will depend on how demand for bitcoin shapes up over the course of the halving. This is by no means guaranteed to increase – or even remain steady – as it has fluctuated wildly in the past.
How low can bitcoin go in 2024
After the analysis of the prices of Bitcoin Cash in previous years, it is assumed that in 2025, the minimum price of Bitcoin Cash will be around $672.44. The maximum expected BCH price may be around $798.11. On average, the trading price might be $691.86 in 2025. Bitcoin halving price prediction 2024-2025 Coming off an impressive 2023, when it rose by more than 150%, Bitcoin (CRYPTO: BTC) is shaping up to have an even better 2024. But will it be able to keep enough momentum to hit the highly anticipated $100,000 mark?