The recent statement from Bitwise CEO Hunter Horsley regarding the price of Bitcoin post-halving has caused quite a stir in the cryptocurrency community. Horsley expressed unwavering optimism about Bitcoin’s potential to reach $100,000 after today’s halving event, which has excited investors despite the increased volatility of the cryptocurrency. This announcement was made in a post published on X today.
Horsley emphasized that people are greatly underestimating the significance of the 2024 BTC halving. He pointed to previous halving events as evidence, highlighting the impact they had on Bitcoin’s price. Today’s halving, scheduled for April 19, is expected to have a similar effect.
According to Horsley, the market has never fully factored in the significance of halving events in the past, and he believes this time will be no different. This suggests that investor sentiment may change amidst the heightened volatility.
Horsley also drew attention to the previous halving events, noting the substantial gains that followed. In 2020, investors’ profits multiplied by 5.4 times, while in 2016 and 2012, gains rose by 2.8 times and 88 times respectively. These historical trends further support Horsley’s belief in the potential impact of the upcoming halving.
The CEO’s prediction of a $100,000 Bitcoin, which represents a 67% increase from its current price, has generated significant interest among investors. Horsley dismissed key indicators that suggest a market upswing for Bitcoin after the supply halving, instead focusing on the potential for steady fresh demand in 2024.
In other cryptocurrency news, Polkadot co-founder Gavin Wood teased a revolutionary JAM upgrade, generating further excitement in the industry.