As Bitcoin (BTC) continues to attempt to reach the critical price level of $30,000, some experts are strongly predicting that the flagship digital asset could reach a record high price of $100,000 by the middle of 2024, around the same time as the scheduled halving event. Halving day is one of the most important dates in Bitcoin's history, as it reduces the reward for mining new Bitcoin blocks in half, potentially leading to a major price gain for Bitcoin.

At the moment, Bitcoin is currently being traded at a price of $29,174, showing a positive shift of 4.89% on its monthly chart. Analysts are highly optimistic about Bitcoin’s trajectory in the future, with popular chart pattern analyst Trader Tardigrade observing a “super BULLISH pattern” in the form of a rising wedge at the end of its recent downtrend. Furthermore, crypto market expert Seth shared that both Bitcoin’s monthly accumulation indicators and a potential price range of $150,000 - $250,000 for 2025 suggests a “glorious” year ahead.

As the cost of mining continues to increase, more transactions have been recorded at record-breaking rates. According to Farooq Anjum, Associate Professor of the Harrisburg University of Science and Technology, the cost of mining must increase to account for the halving if the Bitcoin price does not double in the following year.

The world of crypto remains highly unpredictable, and although the opinion of crypto enthusiasts and experts is supportive of a bullish trend, the majority of investment carries a significant amount of risk. As such, it is important to consider all aspects when choosing to invest. It is necessary to understand what precisely is being invested in, and the investment strategy applied should be an individual decision.



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