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Bitcoin Could Rally to $63K Ahead of Next Mining Reward Halving: Matrixport

2022/10/28 09:56

Markus Thielen, head of research and strategy at crypto service provider Matrixport, has made a new prediction that legendary investor Warren Buffett once said to fear when others are greedy and be greedy when others are fearful, and perhaps it is time for the crypto market to get greedy as the hard-hit Bitcoin (BTC) could soon get relief and rally by March 2024 to $63,000, at which point the cryptocurrency could experience a halving of mining rewards. Thielen says prices start to rise 15 months before the next halving (November 2022) and tend to rise 39% from the levels they traded at 24 months ago. This means bitcoin is trading at about $63,160 ($45,538 * (1 + 39%) = $63,160 in March 2022) through March 2024.
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