TL;DR
- Bitcoin is approaching the halving, and forecasts are bullish despite the recent correction.
- The cryptocurrency market cap surpasses $2.35 trillion, with BTC dominating 51.48%.
- Analysts predict that BTC could reach $150,000 by the end of 2025, doubling its current value.
Bitcoin (BTC) is approaching the long-awaited halving, an event that historically has had a significant impact on its price and the crypto market as a whole. Over the last 15 months, BTC has seen a 320% increase, currently trading above $64,300 with a market cap surpassing one trillion dollars. This raises another question: Could it increase by another trillion in market cap by the end of 2025?
The halving is scheduled for around April 19, and although it may go unnoticed by most people, it is a highly significant event for the industry. Historical data shows that after each halving, Bitcoin has experienced a massive price increase. This time, forecasts are no different. Despite a significant correction in the cryptocurrency market over the weekend, primarily caused by BTC’s fall, analysts suggest there is potential for recovery in the coming days.
The Bitcoin halving is just 4 days away.
Institutions from all over the world are lining up to get a piece of the Bitcoin pie.
A massive supply shock is brewing. A $100K BTC is programmed.
Once that happens, altcoins will explode.…
— Lark Davis (@TheCryptoLark) April 15, 2024
The cryptocurrency market cap is around $2.35 trillion, with Bitcoin holding a market dominance of 51.48%. On the other hand, stablecoins also play a significant role, with a market cap of $157 billion.
Bitcoin Approaches ‘Supply Shock’
Bitcoin’s halving is an automated process in which miner rewards are halved and occurs approximately every four years. Theoretically, the increasing scarcity should boost its value in the market. With a fixed maximum supply of 21 million Bitcoins, there is still a long way to go until the end of production.
Analysts also highlight the phenomenon of “supply shock,” which occurs when the supply of Bitcoin available on exchanges begins to decrease. This, combined with an increase in demand, could trigger intense upward pressure on BTC’s price.
Based on past Bitcoin halving cycles, analysts predict a steady increase in its price in the coming years. Estimates suggest it could reach $150,000 by the end of 2025, doubling its current value and resulting in a substantial increase in its market cap.
