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Bitcoin (BTC) is projected to reach a target of $250,000 following its upcoming block subsidy halving — however, new all-time highs are anticipated to occur sooner.
This forecast comes from BitQuant, a well-known commentator on social media who envisions a promising outlook for the leading cryptocurrency.
BitQuant: Pre-halving all-time high will not be BTC price peak
In a recent update on X (formerly Twitter) dated Sep. 15, the anonymous “central banker and Bitcoiner” disclosed a pre-halving target exceeding $69,000.
“No, Bitcoin is not going to peak before the halving,” he stated in part of his commentary.
“Yes, it's going to achieve a new all-time high prior to the halving.”
Bitcoin has slightly more than six months remaining until the halving, an event that reduces miner rewards per block by 50% every four years.
Analysts contend that the ensuing emission limitations have a significant effect on BTC price dynamics, serving as a sort of catalyst ahead of Bitcoin reaching new all-time highs.
For BitQuant, though, this alone is not sufficiently bullish. He believes that Bitcoin will surpass its current record, established in 2021, before next April — and will subsequently reach $250,000 per coin once the next halving cycle commences.
“No, BTC is not going to $160K because the scale of each pullback is substantial,” he added.
“This indicates it will peak after the halving, in 2024. And yes, the target price is approximately $250K.”
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BTC/USD annotated chart. Source: BitQuant/X
Bitcoin traders diverge on halving price predictions
As Cointelegraph has reported, market participants are significantly split regarding how BTC price movements will unfold leading up to the halving and thereafter.
Related: Wen moon? Bitcoin halving cycle hints at Q4 as smart money ‘buys the rumor’
Some believe that higher price levels are achievable by April, yet many cautious voices persist.
Last month, Bitcoin investor and author Jesse Myers dismissed any notion that BTC/USD would reach six figures before then.
In a later interview with Cointelegraph, Filbfilb, co-founder of the trading suite Decentrader, provided a pre-halving BTC price ceiling of $46,000.
“Assuming no black swan event, around $35,000 by the end of the year and potentially as high as $46,000 sometime before the halving in Q1 2024,” he stated.
Bitcoin was trading at approximately $26,400 on Sep. 15, reflecting a 1.3% increase in September thus far, according to data from monitoring resource CoinGlass.
BTC/USD monthly returns chart (screenshot). Source: CoinGlass
This article does not provide investment advice or recommendations. Every investment and trading decision carries risk, and readers should perform their own research when making choices.
