🚀Once the 2028 cut is complete, bitcoin will reach $5 million🚀
🚀In a piece that was published not too long ago, cryptocurrency expert Bit Harington discussed the anticipated increases in the value of Bitcoin that are expected to occur over the subsequent halving phases. According to Harington's forecast, the price of Bitcoin would hit $500,000 by the time of the fourth halving, which is scheduled to take place in April. This forecast was based on data from the Bitcoin S2F chart.
🚀The peculiar pattern that was noticed in the price of Bitcoin was the basis for his forecasts. From the first to the third halving phase, the price of Bitcoin consistently increased by a factor of ten for each subsequent halving to follow.
In response to the article, Plan B, the company that developed the S2F model, made a daring forecast. He said that the average price of Bitcoin during the halving events that will take place in 2028 and 2032 might possibly reach an amazing $5 million.
🚀Following each halving occurrence, the cryptocurrency has continuously seen positive rallies. This trend began with the first Bitcoin halving in November 2012 and will continue until the third halving occurs in May 2020. As a consequence of this, several investors and cryptocurrency specialists anticipate a comparable increase in the price of Bitcoin during the halving that will take place in 2024.
🚀One possible explanation for these anticipations is because they are based on the activities that generally take place during a Bitcoin scaling event. Each time there is a halving phase, the incentives for mining Bitcoin are cut in half, and the quantity of the token is decreased. This brings about a state of scarcity, which in turn raises the value of the token.
