In the ever-evolving world of cryptocurrency, Marcel Knobloch also known as Collin Brown, a crypto expert has offered an audacious prediction for Bitcoin, foreseeing a significant rally to unprecedented heights post-BTC Halving event scheduled to take happen this month.
Bitcoin Poised For Massive Growth Post-Halving
According to Collin Brown, the fourth mining reward Halving for Bitcoin will take place in the next 48 hours. This event will cut down the current 6.25 BTC per block output to 3.125 BTC per block.
Brown noted that following the last Halving event, Bitcoin witnessed over 700% growth, bringing the crypto asset to its previous all-time high of $69,000 achieved at the peak of the 2021 bull cycle. Given the impact of the previous Halving, the crypto expert has predicted the coin will reach $455,000 should BTC mirror this pattern.
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In just forty-eight hours, Bitcoin’s fourth mining reward halving will occur. This quadrennial occurrence will slash the per-block emission of BTC to 3.125 BTC from the current 6.25 BTC. After the last halving, Bitcoin prices surged 700%, which would now bring $455,000.
It is worth noting that since the cryptic developer of Bitcoin, Satoshi Nakamoto, introduced the coin about 15 years ago, the Halving has been ingrained in the crypto’s program. This year’s event will happen when block 840,000 is created, which might increase BTC’s value by reducing supply.
Historically, the three previous halvings have caused the price of the digital asset to soar significantly, amassing substantial gains. Data shared by Brown shows that following the first halving event, Bitcoin saw a whopping 9,360% rise, topping out around $1,135 from $12.
However, it took the crypto asset approximately 371 days to reach the aforementioned figure after the Halving. Furthermore, the second halving, which occurred in 2016, drove Bitcoin’s price from $650 to $19,640, indicating an over 2,920% increase.
Meanwhile, the last instance secured a 700% rally, taking prices from $8,626 to the previous peak of $69,045. Primarily, it took BTC more than 500 days in the preceding two cycles to reach new records.
Considering the past trends, Brown’s forecast appears to be reasonable and possible. Should any of these trends reoccur, the crypto expert’s prediction might manifest in the following year.
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