Since the last bitcoin halving, all eyes have been focused on the price of the crypto which reached a historic high before the event. All investors are impatiently waiting for, like after all halvings, the price of cryptocurrency to experience a boom. But somewhere, doubts remain. Does the historic peak reached by the queen of cryptos a few weeks before the halving cancel the expected post-halving rally? And if the rally were to ultimately take place, how much could bitcoin be worth after this increase? Analyzes.
An 80,000 bitcoin is necessary for mining profitability
If the price of bitcoin is currently moving rather soberly, the bitcoin whales do not seem to be worried. They withdrew large amounts from centralized exchanges. It is especially the miners who are worried because the halving has reduced the block reward by 50%. As a result, they now need a bitcoin at $80,000 for the mining activity to be profitable.
Would this mean that we will see the course of bitcoin rise to $80,000 in the immediate future ? We cannot say this very clearly. However, what we can guarantee is that the recent halving has further increased the scarcity of bitcoin by reducing the circulating supply. This scarcity will clearly impact the price of the cryptocurrency.
Bitcoin Whales Preparing for Long-Term Uptrend
Apart from halving, the impact of the BTC ETF phenomenon on the adoption of crypto seems to confirm the analyzes of the famous Tim Draper. As he said, bitcoin could well reach the price of $250,000, $1 million or even $10 million. Moreover, we have noted that in recent weeks whales have started making large withdrawals from centralized exchanges.
All of this helps confirm that sentiments are very bullish for bitcoin. The price of cryptocurrency may not increase in the coming weeks. But in 3 or 6 months, we could never see BTC worth less than 6 figures again.
While waiting for crypto to confirm or inform these analyses, altcoins on the market are starting to see their indicators turn green. Several tokens like PEPE are experiencing double-digit growth just a few days after the bitcoin halving. Meanwhile, big changes are coming for bitcoin.
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