An analyst now gives Bitcoin a massive price target of $300K-$500K based on its halving prediction, which may occur by the end of the year.
A well-known crypto analyst believes that the cryptocurrency market is on the brink of a major rally, forecasting that Bitcoin (BTC) could hit a staggering six-figure price.
In a recent strategy session, crypto trader Michaël van de Poppe shared with his 733,700 followers on the social media platform X that if they subscribe to the theory of BTC’s halving cycles, the leading cryptocurrency could soar to between $300,000 and $500,000 by the end of the year.
He stated, “It’s about time for the markets to go vertical.
If you believe in the four-year halving cycle, then we’re very close.
Whether it happens in November or December doesn’t matter—the outcome will be the same: Bitcoin to $300,000-$500,000.”
According to van de Poppe’s analysis, Bitcoin has experienced only a small portion of the growth typically seen during halving years, indicating substantial potential for further gains if it follows historical patterns.
Bitcoin undergoes a halving event every four years, which reduces miners’ rewards by half.
The most recent halving took place earlier this year.
Van de Poppe noted that after Bitcoin recently dipped to around $65,000, it is now in a consolidation phase that could lead to a rally starting as soon as next week.
He explained, “After the dip toward the $65,000 area, we should see consolidation followed by a breakout. I anticipate that yields will start to fall soon again, which would lift the markets.”
His projections suggest that Bitcoin could surpass $71,000 sometime in November before consolidating and then taking off again.
As of now, Bitcoin is trading at $67,229.
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