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Bitcoin Halving In 2024 Could Trigger Record Rally: Analyst Predicts Prices Over $100K

Published 13/01/2023, 13:08
© Reuters Bitcoin Halving In 2024 Could Trigger Record Rally: Analyst Predicts Prices Over $100K
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Benzinga - A pseudonymous crypto analyst on Twitter predicts that a massive Bitcoin (CRYPTO: BTC) rally is underway leading up to the 2024 halving, which will reduce the available apex crypto supply.

What Happened: CryptoQuant analyst ‘PlanB’ has stated that the price of Bitcoin has surpassed key support from short-term holders, signaling further price growth into 2024 when the halving event occurs.

The analyst predicts that the 2024 halving event will cause the value of Bitcoin to rise above $32,000, setting the stage for a bullish market in 2025 with a potential price of over $100,000.

See More: Best Crypto Day Trading Strategies

According to PlanB, the bottom level for Bitcoin was in November when it reached the $15,500-mark.

Price Action: At the time of writing, Bitcoin was trading at $18,797, up 3.83% in the last 24 hours, according to Benzinga Pro data.

Read Next: Bitcoin, Ethereum, Dogecoin Jump After Inflation Data: Analyst Says Apex Coin Might Remain 'Trapped' In This Range

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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