Analyst Kevin Svenson predicts a parabolic bitcoin rally after halving
The expert warned that in such a case, in the second half of 2025, it will be necessary to exit the market
09.02.2024 - 11:30
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The material is not an investment recommendation and is published for informational purposes only.
What’s new? Crypto analyst Kevin Svenson believes that soon after the halving a bitcoin rally may begin, as a result of which the rate of the asset will reach a new all-time high. He believes that the stock market will rise this year against the backdrop of the upcoming US elections. Also, he thinks that the bitcoin rate will go up along a parabolic curvature after the reward to miners for a mined block is reduced in April. The expert warned that in this case, in the second half of 2025, “we need to be getting out of the market.”
Halving is code’s embedded cut in half of the reward to miners for a mined block on the blockchain, which occurs approximately every four years. Initially, miners received 50 BTC; on November 28, 2012, the number dropped to 25 BTC, on July 9, 2016, to 12,5 BTC, and on May 11, 2020, to 6,25 BTC. In April 2024, the award will be cut to 3,125 BTC.
What else is known? Svenson noted that 80 weeks after each halving, the profitability of the bitcoin market ends. He recalled that in 2016 and 2020, bear markets came a year and a half after this event. Based on historical data, the expert said that a new downturn should be expected in October 2025.
Earlier, the managing partner of SkyBridge Capital, Anthony Scaramucci, stated that the bitcoin exchange rate will jump to at least $170 000 after halving, and in the long term, the capitalization of the coin may reach half the capitalization of gold.
At the time of writing, BTC is trading at $46 605 on Binance, having gained 4,28% over the day and 8,4% over the week (data from the CoinGecko aggregator).
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