Next month will be Bitcoin halving, how far can the price go down? or how high can the price go up?
The halving finally happened on Friday, and as expected, nothing serious has happened in the crypto market so far. I believe it will take months before the halving of this year attracts investors to Bitcoin, and by what happened due to the ETF fillings of last year and its approval this year where the price of the market has been pushed higher, I do not expect immediate reaction caused by halving. I also fear for less reactions as well because Bitcoin is being hyped during this halving time, but this time, it is overpriced already. So I am concerned about those who will invest more money that will help it to move much higher at this high level.
Regardless, if the past histories of the halving and its cycles are to be considered in relation to the present reality and the condition of the market charts, I believe that this year's halving should help Bitcoin reach at least $100,000 with time. Again, there may be some discouragement over time, but still, if more adoptions could be gained by it, maybe we will see it between $100,000-$120,000 before the end of this bullish cycle.