Analyst says Bitcoin halving could turn $1 investment into $26,000
Prominent Bitcoin Investor shared his prediction on Bitcoin price ahead of the Bitcoin halving event.
PlanB, a prominent Bitcoin Investor & analyst, popular among the Crypto X (Twitter) community, shared his analysis on the Bitcoin trade price, as Bitcoin entered the first phase of Bitcoin halving.
On 12 Nov 2023, PlanB concluded that Bitcoin halving could turn a $5 investment into $130,000 if it followed its past similar pattern of Bitcoin halving.
However, this Bitcoin Investor suggested people not use his prediction for investment purposes but his analysis is showing a very big opportunistic picture for the investors.
This analysis is showing the performance that Bitcoin showed around Bitcoin halving events in a period of 2 years (6 months per halving & 18 months post halving) corresponding to each Bitcoin halving.
So even if any person wants to invest in Bitcoin to gain several-fold profit then surely that person is required to hold funds for the long term, while simultaneously needs to ignore of other negative news.
This is a reality that Bitcoin always resulted in a better amount of profit for the long-term investors, so people should consider this analysis in their self price analysis to invest money in Bitcoin.
In the past, Bitcoin was supported by small investors and this innovative sector was fully unregulated across countries but now the situation has changed.
Over the last couple of years, the majority of the country’s financial regulators showed a significant Inclination toward this sector, to prohibit illegal activities as well as the growth of the crypto companies under a regulated environment just like other traditional financial markets. So here we can’t ignore the high degree of money inflow possibilities in the market amid this bull phase.
The current trade price of Bitcoin is $37,223 & this trade price is 38% higher over the last 30 days of trade price.
According to veteran Bitcoin traders, the trade price will be at its peak in March of next year, for this bull phase and after that October will bring an opportunity to make some profit.
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