Crypto expert Kaleo has provided an analysis suggesting that Bitcoin prices are poised for a major increase following each halving event.
Since the 2012 halving, Bitcoin’s price has surged over 500,000%, rising from $12 to nearly $70,000, with these gains concentrated in three significant spikes over short periods.
Kaleo expects that, similar to previous cycles, substantial price increases are likely to follow the current halving. Despite potential short-term dips, he believes the real growth phase is yet to begin.
Since the 2012 halving, Bitcoin is up more than 500,000% from $12 to nearly $70K.
The majority of that price discovery happened in three windows that lasted a grand total of less than two years.
The other ~10 years? BTC was either moving sideways or down.
Each… pic.twitter.com/cEyn4Bv9sM
— K A L E O (@CryptoKaleo) July 29, 2024
According to Kaleo, the current period—several months after the halving and with Bitcoin’s price below past highs—represents a prime buying opportunity.
Recent data also shows that major investors are actively accumulating Bitcoin, with one whale recently moving substantial amounts of BTC from major exchanges. This trend highlights growing institutional interest.
The impact of Bitcoin as an institutional asset will be a key topic at Benzinga’s Future of Digital Assets event on November 19.
Alphractal, a cryptocurrency analysis firm, has voiced concerns about Bitcoin’s current market trajectory, suggesting it may be on the verge of entering a bear market phase.
Recent blockchain data reveals that a segment of Bitcoin investors has started selling off assets to lock in profits following a recent price surge.
CryptoCon confidently predicted an imminent bull market for Bitcoin, downplaying concerns of a recession or prolonged bear market.
Jeff Kendrick, global head of digital asset research at Standard Chartered, predicts Bitcoin could reach $200,000 by the end of 2025, regardless of the outcome of the 2024 US presidential election.