The Bitcoin halving event on Saturday cut miner rewards by 50%, from 6.25 BTC to 3.125 BTC per block, prompting Swyftx analyst Pav Hundal to predict a 100% price surge by the next halving in 2028 to $120,000, citing historical trends.
Pav Hundal said, “We’ve gone from trough to peak price gains of more than 60,000% in 2013, to 12,000% in 2017, and then 2,000% in 2021.”
Henrik Andersson from Apollo Crypto takes a more bullish stance, foreseeing Bitcoin hitting $200,000 pre-2028. Pav attributes this to growing institutional acceptance, especially with 11 new spot Bitcoin ETFs approved in the US. Andersson’s firm also expects $65 billion in ETF inflows this cycle.
Despite concerns if Bitcoin drops below $40,000, experts see mining sustainability. Hundal and Andersson point to rising revenue streams like Ordinals and upcoming projects like Runes protocol and layer-2 networks. They dismiss worries about mining’s costliness and energy efficiency as exaggerated.
Do you think Bitcoin’s halving will lead to a substantial price surge by 2028, given the projections and factors like institutional acceptance and alternative revenue streams for miners?
Also Read: Bitcoin’s Runes Protocol: Hype or Reality After Halving?
