- As per Horsley, the market has never priced it in before, and it will not have priced it in this time either.
- The CEO predicted that 2024 would bring steady fresh demand for Bitcoin.
The newest comment made by Bitwise CEO Hunter Horsley on the price of Bitcoin after the halving has caused a commotion in the crypto community. The chief executive officer expressed a feeling of continued optimism over Bitcoin’s ability to reach $100,000 after today’s halving event, which sparked a frenzy among investors despite the increased volatility of Bitcoin. This was expressed in a post that was published on X today.
It has been said by Horsley in a post on X that “people are dramatically underestimating the 2024 BTC halving.” In response to this, the Chief Executive Officer brings up earlier instances of halving, highlighting the magnitude of the approaching halving, which is scheduled to take place today, April 19, as well as the possible effect it may have.
Impactful Halving Event
According to Horsley, the market has never priced it in before, and it will not have priced it in this time either, which highlights the possibility of a change in investor mood in the middle of the increased volatility.
He also highlights Bitcoin’s previous halving events, calling important attention to significant times in the past: 2020, when investors’ profits were multiplied by 5.4x, followed by 2016 and 2012, when gains rose by 2.8x and 88x, respectively. In addition, he highlights the fact that Bitcoin’s halving events have occurred in the past.
The CEO also mentioned that a $100,000 bitcoin is +67% from here, which garnered a huge amount of attention from investors. Horsley further ruled out crucial criteria that emphasize a market upswing for Bitcoin after the halving of the supply. Further, Horsley predicted that 2024 would bring steady fresh demand for Bitcoin, which would allow for an impactful halving.
Highlighted Crypto News Today:
Polkadot Co-founder Gavin Wood Teases Revolutionary JAM Upgrade
