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Bitcoin Could Triple in Price to $63,000 Before New Halving

Despite the massive crypto market volatility, there are still a lot of optimistic crypto predictions out there. Check out the latest reports about the price of Bitcoin below.

Bitcoin price analysis

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $20,595.

The popular crypto analyst and host of the InvestAnswers YouTube channel stated not too long ago that Bitcoin (BTC) could easily go on a 3x rally before the next halving event.

In a new strategy session, the analyst made sure to point out the fact that strong BTC rallies usually precede Bitcoin’s halvings. Just to refresh your memory, the halving is an event when miners’ block rewards are cut in half and therefore crunching future supply.

According to the analyst, historical precedence based on the halving dates places BTC around the $63,000 level by March of 2024. The number is a relly crucial one, a number which would be more than a 200% gain from current prices.

“Historically, Bitcoin begins to rally 15 months before the next halving. The next halving is expected April or May 2024 – lots of rumors flying around it could happen in December of 2023, depending on the actual timing of the bocks if it goes to less than 10 minutes. I’m still sticking with the April timeframe, 2024.”

The analyst continued and said the following:

“November 2022 is 15 months away from that halvening date… Bitcoin tends to finish 39% from where it traded 24 months prior to the halving, and that would imply March 2022 at $45,538 times one plus 39% [($45,538* (1+39%)]… That should take us to $63,160 by March 2024.”

Despite the fact that we’ve been in a bear market for some while now, there are all kinds of optimistic predicitons about the price of Bitcoin, and the overall sentiment in the crypto market seems to be an optimistic one. Stay tuned for more exciting news.

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