Historically, BTC does have a rally before its halving occurs. However, the most certain part of the halving is the rally that comes after the event.
Popular social media trader Titan of Crypto has once again affirmed that Bitcoin (BTC) will hit a pre-halving price target of $50,000. He made the announcement late Sunday, as he noted that the $39,000 mark is the price target range floor.
Last year, Titan of Crypto predicted a price range of between $39,000 to $50,000 for BTC before the halving. He reminded his X followers about the prediction, asking them to brace up for more surges in price soon. His post reads:
“The pre-halving rally I told you about one year ago is about to reach its target zone between $39k-$50k.”
The popular trader initially shared his prediction last December. At the time, BTC was just on its way to recovery after hitting a two-year low of $15,600. His prediction, which may have been outrageous at the time, suggested a 220% surge in BTC price in just over a year. However, much of those gains – over 120% – have now been achieved, and the forecast may just come to pass. But there is a little challenge.
Bitcoin currently faces serious resistance at the $40,000 mark. All efforts to break the resistance during the last week ended up futile, with last week’s $37,200 registered as its highest climb so far this year.
According to Titan of Crypto, the $39,000 mark is an important boundary that Bitcoin will have to reach before April 2024 when the halving will take place.
Common Predictions for Pre-halving Bitcoin Price
Meanwhile, Titan of Crypto is not alone in his forecast as it appears that there is a consensus regarding the BTC price prediction. Several predictions have similar targets for BTC ahead of the halving.
Filbfilb, cofounder of trading suite DecenTrader, for instance, eyes the $46,000 mark for BTC. That is despite not writing off that there will be price dips occasionally.
Historically, BTC does have a rally before its halving occurs. However, the most certain part of the halving is the rally that comes after the event. As severally reported by Coinspeaker, the entire crypto industry eagerly awaits the halving, and BTC prices are expected to surge massively.
The commonly predicted level is the $100,000 mark. But there are also more bullish forecasts which suggest that Bitcoin may even surpass $130,000 by the end of 2025.
As of press time, BTC was seen hovering at around $37,200, per data from CoinMarketCap.