Bitcoin Predicted to Hit Rp 1.5 Billion Before Halving
The price of Bitcoin (BTC) has continued to show positive movement in recent months.
This has led many analysts to predict how high Bitcoin could surge, especially in the lead-up to the upcoming halving event.
Bitcoin Price Predictions
One of the latest predictions comes from Standard Chartered Bank, which projects the price of Bitcoin to reach USD 100,000, equivalent to Rp 1.5 billion (assuming an exchange rate of Rp 15,458 per US dollar), by the end of 2024. This prediction is based on several factors, including:
Recent Bitcoin price increase: Bitcoin recently reached a new all-time high above USD 80,000, indicating that the bull market is still ongoing.
Bitcoin halving: Halving is an event that occurs every four years, where the amount of Bitcoin mined per block is cut in half. This is predicted to cause a decrease in Bitcoin supply and drive the price up.
Increased adoption of Bitcoin: More and more institutions and investors are starting to accept Bitcoin as an investment asset, which could increase demand and price.
Other Analyses
Other analysts, such as Mike McGlone of Bloomberg Intelligence, predict that the price of Bitcoin could reach USD 100,000 by the end of 2022 or early 2023.
He believes the next Bitcoin halving will be a "major catalyst" for price increases.
Meanwhile, Fundstrat Global Advisors estimates that the price of Bitcoin could reach USD 200,000 by 2024.
Disclaimer
It is important to note that Bitcoin price predictions are just speculation, and there is no guarantee that the price will reach the predicted levels.
The cryptocurrency market is still relatively new and highly volatile, so prices can change quickly and unexpectedly.
Investors interested in buying Bitcoin should conduct their own research and understand the risks involved before investing.