Friday, April 5, 2024

It's very likely for ETH to hit $5,000 in 2024 after the Halving

Bitcoin Halving, that is, Bitcoin becoming more scare, is an event that's always proved to be incredibly bullish for the market. As Bitcoin being more scare draws in more people, and as its valued more for the sake of its scarcity, the whole market experiences an inflow of new users who are looking for coins other than Bitcoin.

Some because Bitcoin wouldn't make them as much, since it requires more capital, others be because they don't have much to invest and the gains Bitcoin would make them wouldn't be worth it, and for other reasons.

If we can learn anything from the last 3 halvings, it's that the prices we'll experience after it has to be very interesting. Bitcoin could probably aim for $200,000, and Ethereum for $10,000 in the long term. That is, in around a year after the Halving, as has been the case in the last three.

It remains to be seen what's going to happen with the ETFs, but Halving alone is incredibly bullish for the market.


No comments:

Post a Comment