According to Cointelegraph, BitQuant, a popular social media commentator, has predicted that Bitcoin (BTC) will reach a $250,000 target after its next block subsidy halving, with new all-time highs expected before the event. In a recent post, the pseudonymous commentator revealed a pre-halving target above $69,000 and stated that Bitcoin will not only beat its current record, set in 2021, before next April, but will also go on to hit $250,000 per coin after the next halving cycle begins.
Bitcoin has just over six months before the halving, an event that cuts miner rewards earned per block by 50% every four years. Analysts argue that the resulting emission restrictions have a significant impact on BTC price performance, acting as a springboard in advance of Bitcoin seeing new all-time highs.
Market participants are highly divided when it comes to how BTC price action will play out into the halving and beyond. Some agree that higher levels are possible by April, but plenty of conservative voices remain. Last month, Bitcoin investor and author Jesse Myers dispelled any idea that BTC/USD will be trading at six figures between now and then. In a subsequent interview with Cointelegraph, Filbfilb, co-founder of trading suite Decentrader, gave a pre-halving BTC price ceiling of $46,000. Bitcoin traded at around $26,400 on Sep. 15, up 1.3% in September so far, per data from monitoring resource CoinGlass.