TL;DR
- Hunter Horsley, CEO of Bitwise, expects a significant increase in the price of Bitcoin after the halving in 2024, with a projection of reaching $100,000.
- Horsley highlights that the impact of the halving is not fully reflected in the market and is based on the possibility of sustained new demand together with the reduction in the daily availability of natural sellers.
- The Bitwise CEO points to growing institutional interest, with numerous registered investment advisors and family offices exploring discrete investments in the cryptocurrency.
Bitwise CEO Hunter Horsley‘s recent statement regarding the future of Bitcoin (BTC) after the halving in 2024 has caught the attention of the financial and crypto community.
Horsley has expressed strong confidence that Bitcoin can reach the $100,000 mark following this event, based on historical patterns and market dynamics.
I think people are dramatically underestimating the halving.
The market has never priced it in before, and won't have priced it in this time.
For the prior 3 halvings, after investors spent months discussing if it was priced in, here's what happened in the 12-months after…
— Hunter Horsley (@HHorsley) April 19, 2024
One of Horsley‘s key observations is that the market has historically underestimated the impact of the Bitcoin halving.
When reviewing the data from the three previous halvings, a clear pattern of significant increase in the price of Bitcoin is evident in the months following each halving event.
These increases were 5.4x in 2020, 2.8x in 2016, and a staggering 88x in 2012.
With this historical perspective, the projection of a Bitcoin at $100,000 represents a 67% increase from current levels.
The key to understanding this phenomenon, according to Horsley, lies in evaluating whether there will be new and consistent demand for BTC, while reducing the daily availability of natural sellers.
The Bitwise CEO notes that there is currently growing institutional interest in Bitcoin, with numerous registered investment advisors (RIAs) and family offices exploring discrete investments in the cryptocurrency.
This trend suggests greater adoption and trust in Bitcoin as a legitimate investment asset
Despite the geopolitical tensions and possible short-term price fluctuations that may arise, Hunter Horsley calls on investors not to underestimate the opportunities that BTC presents in the current market.
Growing participation from institutional investors, along with continued interest from various financial players, support Horsley’s optimistic view on the future of this leading cryptocurrency.
This support suggests a favorable environment for growth and broader adoption in the global financial landscape.
The projection of a Bitcoin at $100,000 after the halving in 2024 is not only based on optimistic expectations, but also on fundamental market analysis and investment trends.
This reflects a growing maturity and acceptance of Bitcoin as a valuable asset in the global financial landscape.
