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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Bitcoin would reach $1.8 million per coin if it matched 2017 bull market run

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While the title of this insight may seem overly bullish, it’s simply a fact based on the data. However, historical patterns don’t really line up with such a bullish scenario. Across each Bitcoin cycle, the price increase has been around 27% of the last period. Should Bitcoin continue this trend, we may still have cause for optimism, albeit not with satoshi/dollar parity quite yet.

Bitcoin halving price increases (Source: TradingView)
Bitcoin halving price increases (Source: TradingView)

The price increase for each halving cycle appears to diminish significantly over time.

  • First Halving (to Second Halving): 10,300% increase
  • Second Halving (to Third Halving): 2,800% increase
  • Third Halving (to Fourth Halving): 738% increase

Each cycle shows a substantial reduction in the percentage increase. To forecast a trend, let’s analyze the approximate rate of decrease:

  • From Halving 1 to Halving 2: (2800 / 10300) ≈ 27.18% of the previous increase.
  • From Halving 2 to Halving 3: (738 / 2800) ≈ 26.36% of the previous increase.

If we continue this diminishing rate, Halving 4 might see an increase of around 26-27% of the previous Halving’s percentage increase:

738 * 0.265 ≈ 195.57%

Estimate for Halving 4: We could estimate an increase of approximately 195% over the halving price. This follows the trend of diminishing returns per cycle.

Such a price increase would take Bitcoin to a peak of around $180,000 this cycle.

Bitcoin halving 2024 price increase (Source: TradingView)
Bitcoin halving 2024 price increase (Source: TradingView)

For fun, if Bitcoin were to break the diminishing returns pattern and increase by 50% or 100% of the last cycle’s increase, we would see prices of $304,000 and $520,000, respectively.

Should Bitcoin somehow find the vigor of the 2017 bull run, it would rise as high as $1.8 million per coin.

Remember, past performance is not a guarantee of future returns. Bitcoin is still in its infancy as an asset, and anything could happen next.

Except, in my view, going to zero.

The post Bitcoin would reach $1.8 million per coin if it matched 2017 bull market run appeared first on CryptoSlate.

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