Bitcoin $288k Theory Emerges Ahead Of The Halving Event And Triggers A Massive Debate

Bitcoin is currently trading at around $8,700, but the digital asset is expected to see some massive price movements ahead of the halving.

As you know, the much-awaited event is scheduled to take place on May 12.

At the moment of writing this article, BTC is trading in the red and the most important coin is priced at $8,706.17.

Despite the massive fall of the coin’s price from back in March, people’s interest in BTC is still on the rise, and they continue to see the king crypto as a safe haven.

The crypto market managed to recover completely following the Black Thursday.

Bitcoin is allegedly about to begin a parabolic phase

The countdown to the halving has begun, and there are various optimistic predictions about the price of BTC.

It seems that the prediction claiming that BTC is about to begin a fourth parabolic phase that will bring the crypto to more than $250k dollars is lighting up the crypto space on Twitter.

There’s a post revealing the new forecast from PlanB which continues to gather likes and it also started a massive debate as the Daily Hodl first noted.

Debating the relationship between BTC’s halving and the price of the coin

This forecast reignited the debate about the relationship between BTC’s halving and the price of BTC.

PlanB said that his latest model shows that BTC will rise to $288k by the end of 2014.

Macro investor Raoul Pal said that the new model is definitely offering a powerful method of analysis.

Not everyone agrees and Alex Kruger is one of the naysayers. He said that the fact that Bitcoin’s scarcity is locked in instead of random destroys the model.

Stay tuned for the latest news about Bitcoin’s price ahead of the halving.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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