6 Months Left to Bitcoin Halving; Is It Time to Buy Bitcoin?
Raoul Pal predicts a promising year 2024 for Bitcoin. Supported by bullish market indicators and the upcoming Bitcoin halving, the asset has the potential to outperform technology stocks.
Bitcoin may outperform investor Raul as he predicts a promising year in 2024. The analyst made this prediction based on market indicators and recent crypto market trends.
Pal's analysis suggests that crypto will experience massive growth, especially next year, citing data showing the possibility of an early recovery for growth assets such as NDX and crypto. He used the GMI Financial Conditions Index to estimate this positive trend.
Another analyst, Vetle Lunde from K33 Research, reported that there is a bullish trend in Bitcoin's future prices. He also drew attention to the high interest and price premiums on the Chicago Mercantile Exchange (CME).
Excitement is increasing as the April 2022 Bitcoin halving approaches, along with speculations about market performance. Analysts suggest that buying Bitcoin six months before the halving and selling it 18 months later could actually be profitable. They argue that this will help Bitcoin capitalize on the cyclical price movements surrounding the event.
Additionally, Stock-2-to-flow (S2F) model creator PlanB has an unpopular but reassuring BTC price prediction. PlanB emphasized in an X post that the Bitcoin price will never fall below the $35,000 level again. He presented a chart in which he argued that Bitcoin's valuation increased depending on its hashrate.
Bitcoin is currently trading at $37,106.80, down 1.07% in the last 24 hours. Despite the comprehensive decline, the price of the asset is still 35.Seems far from dropping to $000 price level
