Historical data suggests that Bitcoin price target 2028 halving is $435,000. Since the last Bitcoin halving in 2020, the price of Bitcoin has surged approximately 650%, indicating a potential for reaching the $435,000 price level before the 2028 halving if historical trends repeat.
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Bitcoin Price Target 2028 Halving
The current price of Bitcoin is around $66,000, showing a rise of about 658% since the 2020 halving, according to CoinMarketCap data. If historical chart patterns continue, Bitcoin’s price could potentially reach $434,280 per coin by the 2028 halving, assuming a similar performance to the current cycle.
https://coinmarketcap.com/currencies/bitcoin/
However, it’s important to note that Bitcoin’s post-halving rallies have displayed diminishing returns over time. While the price surged over 12,400% to $12.50 by the first halving in 2012, the increase was 5,200% to $650 by the 2016 halving and 1,200% to $8,500 by the 2020 halving.
This suggests that Bitcoin’s average price rallies have decreased by 45% each cycle, leading to the current 658% increase. If this trend persists, Bitcoin could deliver a 360% rally during the next cycle, resulting in a roughly $303,600 BTC price at the 2028 halving.
Bitcoin Halving versus ETFs
Regarding the impact of Bitcoin halving versus ETFs, Hao Yang, head of financial products at Bybit, argues that Bitcoin’s recent price surge is primarily due to inflows into spot Bitcoin exchange-traded funds (ETFs) rather than the upcoming halving.
He notes that there is no clear evidence supporting a positive correlation between the halving event and BTC price. However, he remains optimistic about the potential for Bitcoin to reach $435,000 by 2028.
Furthermore, a six-figure BTC price seems more achievable if Bitcoin ETFs surpass gold ETFs, a scenario that could unfold in the next two years according to a report from Bloomberg analyst Eric Balchunas. Bitcoin ETFs are growing at a much faster rate than gold ETFs did when they first appeared in 2004, indicating a strong potential for further growth in the Bitcoin market.
https://twitter.com/SDWouters/status/1773801473874264131?s=20
Conclusion
To conclude, the Bitcoin price target for 2028 halving as suggested by historical data Bitcoin could reach $435K. While Bitcoin’s post-halving rallies have shown diminishing returns, there remains optimism about its future growth, especially if Bitcoin ETFs continue to gain traction and potentially surpass gold ETFs in the coming years.
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