Bitcoin could rise another 160% after the halving, surpassing the USD 150,000 mark.
According to a research report from Bitfinex analysts shared with Cointelegraph, after the halving, the price of Bitcoin
$BTC could appreciate over 160% to reach a cycle high of over $150,000.
“Using a direct regression model, we predict a 160% price increase after the halving in the next 14 months, taking the price to between USD 150,000 - USD 169,000.”
However, analysts note that there is more selling pressure built up, compared to previous cycles, due to Bitcoin reaching a new all-time high before the halving, for the first time in cryptocurrency history.
While this is a sign of confidence for Bitcoin bulls, it could also introduce significant selling pressure as 1.87 million BTC, or 9.5% of the circulating supply, was purchased above the $60,000 mark. The analysts noted:
“This underscores the active engagement of short-term holders at higher prices, reflecting evolving ownership dynamics amid market activity and institutional influence via spot ETFs. The increase in entity movement suggests a shift in the cycle towards gradual distribution of idle supply and profit taking.”
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