Here's why bitcoin should soon exceed $80,000
Since bitcoin's price was cut in half before the event, it has been the centre of attention. Before the event, the price of bitcoin had reached an all-time high. Like after each halving, all buyers are looking forward to a big rise in the price of bitcoin. Even so, there are still questions.
Will the expected rally after the halving be wiped out by the record-setting high hit by the queen of cryptos a few weeks before the halving? After this rise, how much could bitcoin be worth if the gain really happened? Go over it again.
The bitcoin whales don't care that the price of bitcoin is going very slowly right now. A lot of money was taken out of centralised markets by them. Miner are the ones who are most worried because the block prize has been cut in half. Because of this, they need a bitcoin worth $80,000 for the mining process to work.
Does this mean that the price of bitcoin is about to reach $80,000? It's not possible to say this clearly. We can say for sure, though, that the recent split has made bitcoin even harder to get by reducing the amount that is in circulation. There is no question that this will have an effect on the price of the coin.
The effects of the BTC ETF phenomenon on the use of cryptocurrencies seem to back up the study of the famous Tim Draper. He said it would be easy for bitcoin to reach $250,000, $1 million, or even $10 million. We have also seen that whales have been pulling a lot of money out of centralised markets in the past few weeks.
All of this proves that people have very good feelings about bitcoin. The price of bitcoin might not go up in the next few weeks. But in three or six months, Bitcoin may never be worth less than $10,000 again.
The signs for market altcoins are starting to turn green. This is happening while we wait for cryptocurrency to confirm or shed light on these studies. A few days after bitcoin was split in half, many tokens, including PEPE, are growing by more than 10%. In the meantime, Bitcoin is going to go through big changes.