This Prediction For 2028 Regarding Bitcoin Has Taken Everyone By Surprise.

Yang from Bybit associates Bitcoin's halving with bull cycles, while arguing that the current rally is primarily fueled by ETF inflows.

Since the last Bitcoin halving event in 2020, the price of Bitcoin has recorded an approximate increase of 658%, trading around $66,000 today. If history repeats itself and this trend continues, it's conceivable that Bitcoin could reach a price level of $435,000 before the 2028 halving event.

The 2024 Bitcoin halving is set to take place in less than three weeks. If history repeats itself and Bitcoin exhibits a performance similar to the current cycle, the current price of $66,000 could reach $434,280 per unit before the 2028 halving event.

However, it's been observed that returns diminish in Bitcoin's post-halving rallies. For example, prior to the first halving in 2012, Bitcoin had virtually no value but surged by over 12,400% to reach $12.5. Similarly, the price of Bitcoin rose by 5,200% to $650 before the 2016 halving, and by 1,200% to $8,500 before the 2020 halving.

If this diminishing return trend continues, it's estimated that Bitcoin could undergo a rally of approximately 360% in the next cycle, resulting in a BTC price of around $303,600 at the 2028 halving.

Factors influencing Bitcoin's price performance include halving events and ETFs. According to Hao Yang, the Director of Financial Products at Bybit, the recent price surge in Bitcoin primarily stems from entries into spot Bitcoin exchange-traded funds (ETFs). Yang argues that there is little evidence supporting a positive correlation between the halving event and Bitcoin's price.

Eric Balchunas, a Bloomberg analyst, suggests that if Bitcoin ETFs surpass gold ETFs, a six-figure BTC price becomes more conceivable, potentially within the next two years.

River's Communications Director Sam Wouters stated in a X post dated March 29, that "Bitcoin fundamentally accelerates the trajectory of gold by five times. The last 10 years of Bitcoin look like a compressed version of the last 50 years of gold. It's no surprise some people are salty about it."

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