Yuri Molchan
Michael Saylor made an important comment about the connection between a Bitcoin halving and BTC price
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Michael Saylor, founder of business intelligence giant MicroStrategy, has hinted at a massive increase in BTC price after the halving. In this case, he turned to the development of events after the previous halving in 2020.
He also posted a celebratory tweet when the halving finally happened.
Saylor points out a clear connection between BTC price and the halving
The founder and former CEO of the aforementioned corporate giant, who is now in charge of its Bitcoin strategy, hinted on the X platform that he expects a huge increase in the price of Bitcoin after the fourth BTC halving.
He reminded his followers that BTC price was $8,618 after the flagship cryptocurrency's previous halving in 2020. Bitcoin reached a new all-time high of $69,000 in November 2023 and then completely unexpectedly shot to a new all-time price high in March this year before the fourth halving.
To date, with Bitcoin changing hands at $61,043, BTC is up about 800% in these four years despite massive volatility. VC investor and major Bitcoin proponent Anthony Pompliano told CNBC this week that Bitcoin is up about 40% year-to-date in 2024.
As for BTC's physical rival gold, it is up 11% over the past five years and just shy of 7% year-to-date this year. Pomp concluded that those who have owned gold over the past five years have lost purchasing power. Therefore, gold's status as an asset that protects purchasing power has essentially been debunked, Pomp suggested.
When Saylor finally hit the halving today, he posted a celebratory tweet saying, “840,000 locks of truth.”
Analyst Plan B makes a bullish BTC forecast
Well-known market analyst Plan B, who developed the Bitcoin stock-to-flow model, posted a tweet sharing a bullish forecast for BTC after the halving.
He tweeted that in line with his model, which takes BTC halvings into account, “insiders would be on top” in the first six months before the halving, driving the price of Bitcoin 2x. Within the first six months, the analyst tweeted, his stock-to-flow model showed a twofold price increase. In his opinion, over a longer period of time, around 6 to 18 months after the halving, Bitcoin is likely to increase fourfold.
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. He believes that blockchain and cryptocurrencies have the potential to change the world in many aspects of the future. He has written for several crypto media outlets. His articles have been quoted by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keizer, etc.
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