Bitcoin Price Predicted to Reach $180K
- A mysterious trader known as Filbfilb recently set a new target price of $180,000 for Bitcoin.
- This prediction is based on the upcoming Bitcoin halving which will reduce supply and increase scarcity.
- Recent developments in the industry, such as adoption of Bitcoin as legal tender, are also factors that could contribute to a bull run.
What is Bitcoin Halving?
The process of halving in cryptocurrency mining refers to the reduction in mining rewards. Every four years, the rate at which new BTC enters circulation is reduced from 6.25 BTC to 3.125 BTC per block mined. Historically, this decrease in supply has been accompanied by significant price changes in Bitcoin.
Bull Market Comparison Chart
Filbfilb points investors to a single chart that shows what happened after each Bitcoin halving. After each halving, prices rose significantly – indicating that the upcoming halving could bring a similar trend this time around.