BitQuant, a well-known social media commentator, has made the prediction that Bitcoin (BTC) will reach a $250,000 target after its next block subsidy halving — but new all-time highs will be seen sooner.
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BitQuant: Pre-halving all-time high will not be BTC price top
In his latest post on X (formerly Twitter) on Sep. 15, the pseudonymous “central banker and Bitcoiner” BitQuant revealed a pre-halving target above $69,000.
“No, Bitcoin is not going to top before the halving,” he wrote in part of his crypto alerts on Twitter. Bitcoin has just over six months before the halving, the event which cuts miner rewards earned per block by 50% every four years.
Analysts argue that the resulting emission restrictions have a cathartic impact on BTC price performance, acting as something of a springboard in advance of Bitcoin seeing new all-time highs.
For BitQuant, however, that alone is not bullish enough. Not only will Bitcoin beat its current record, set in 2021, before next April — it will go on to hit $250,000 per coin after the next halving cycle begins.
“No, BTC is not going to $160K because the magnitude of every pullback is large,” he continued, citing his best crypto on Twitter.
Bitcoin traders diverge on halving price picks
As Cointelegraph reported, the outlook for BTC/USD ahead of the halving has caused a split opinion among market participants.
Jesse Myers, author and Bitcoin investor, recently put an end to speculation that the price could hit six figures before the event.
In contrast, Filbfilb, co-founder of trading suite Decentrader, is more optimistic, with a pre-halving BTC price ceiling of $46,000.
“Assuming no black swan event, around $35,000 by the end of the year and possibly as high as $46,000 some time pre-halving in Q1 2024,” he said.
At the time of writing, Bitcoin was trading at around $26,400, according to CoinGlass, up 1.3% in September.
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