The price of Bitcoin has begun to pick up speed again, inching closer to $70,000 as it climbed 4.76% over the past day. Currently, Bitcoin is valued at $64,662 and boasts a market capitalization of $1.27 trillion, continuing its upward trend.
According to current market trends, some individuals are optimistic that Bitcoin’s price will hit $70,000 prior to the halving event and could soar as high as $100,000 following the halving. This view is shared by Hunter Horsley, the CEO of Bitwise.
In this post, we’ll explore the views of fintech leaders such as Hunter Horsley, Arthur Hayes, and Anthony Scaramucci on Bitcoin’s price following the halving event.
RIAs and Multi-Family Offices Will Lead The Road For Bitcoin Price
It’s rumored among some Registered Investment Advisors and multi-family offices that they clandestinely invest in Bitcoin. This isn’t openly disclosed, but there’s growing interest in exploring BTC as an investment option. Hunter has obtained this information through his professional connections at a large firm, which is quietly incorporating Bitcoin into client portfolios due to its potential significance in the financial market.
Right now countless RIAs and multi-family offices are buying bitcoin and doing homework.
Few among them are openly discussing it. A thorough search on LinkedIn or company websites will reveal scarcely any information regarding this topic.
This week I met with a large…
— Hunter Horsley (@HHorsley) April 19, 2024
The CEO maintains that he’s kept this information confidential to avoid unwanted scrutiny. In the days ahead, these companies will be more transparent about their Bitcoin investments. According to Hunter, the political tussle between Iran and Israel doesn’t explain recent Bitcoin sell-offs or sway long-term BTC holders’ convictions.
In simpler terms, the effect of the halving doesn’t depend on the opinions of current bitcoin holders who have already deployed their coins. Instead, it hinges on whether there will be significant and continuous new demand for bitcoin, as well as a decrease in the number of daily sellers offering bitcoin for sale. In my perspective, there is expected to be consistent new demand for bitcoin by 2024 and the conditions are ripe for a substantial impact from the halving event.
Based on Hunter’s analysis, Bitcoin has experienced significant growth within the past year, with the goal of reaching $100,000 being approximately two-thirds attainable.
BitMEX’s Co-Founder, Arthur Hayes, Claims Bitcoin To Go Way Above 100K
Arthur Hayes has made several forecasts in the past, some of which have proven accurate. One of these predictions focuses on the 2024 Bitcoin halving, which he believes will cause Bitcoin’s value to surpass $100,000 and potentially reach as high as $750,000 by the year 2026.
In simple terms, the co-founder of BitMEX foresaw Bitcoin being worth between $25,000 and $30,000 in the year 2023. However, they predicted that the all-time high price would be reached in the year 2024.
The price of my investment could reach between $750,000 and $1 million by 2026. I strongly believe that this will mark the peak of one of the most significant bull markets for financial assets in the history of humanity.
At the Token 2049 Conference, Arthur shared his viewpoint on why Bitcoin is the ideal answer in today’s era of central banking financial reports. He pointed out the limitations of the conventional monetary system and questioned the authenticity of US GDP figures, suggesting they serve to conceal the true state of affairs from the public. Given Bitcoin’s ability to address significant issues, Arthur’s perspective indicates a potential bull market that could drive the price beyond $100,000.
Skybridge Capital Founder Believes Bitcoin Price To Rally $200K
In a recent interview, Anthony Scaramucci, the founder of Skybridge Capital, discussed the positive signs suggesting Bitcoin could reach $200,000 following its upcoming halving event.
With the halving occurring soon and the long-term outlook, I believe this asset could be worth $170,000 at the very least, and potentially even reach $200,000.
In certain circumstances, such as wars, terrorist attacks, or matters concerning national security, Bitcoin’s value could decrease by 10-15%. However, beyond these exceptions, Bitcoin is expected to reach a value of $200K.
Conclusion
Despite the widespread belief that Bitcoin will continue to rise based on previous predictions, JP Morgan disagrees. The financial giant asserts that Bitcoin’s price is more likely to decrease and the upcoming halving event has already been factored in. However, Hunter argues against this perspective, stating that people have underestimated the impact of the halving in the past and will do so again this time. The market had not previously priced in the halving’s effects, and it is unlikely to do so now.
Amidst all the buzz surrounding Bitcoin Halving, the Bitcoin price has rebounded significantly from its recent slump. The anticipation and speculation about this event will soon be put to rest, as Bitcoin Halving is set to occur in just a few hours.
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2024-04-19 18:34