Using historical and future Bitcoin halving eventsThe Bitcoin Stock to Flow (S2F) live data chart model has pointed to a BTC spike to unprecedented highs during the halvings from 2028 to 2032.
Bitcoin will reach $5 million after halving in 2028
Crypto analyst Bit Harington recently shared insights in a post on X (formerly Twitter) about the potential increases in Bitcoin’s price during the next halving phases. Using data from the Bitcoin S2F chart, Harington predicted the price of Bitcoin would reach $500,000 by the fourth halving, which takes place in April.
His predictions were based on the characteristic trend observed in BTC’s price, with the first through third halving phases seeing a consistent 10x price increase for each successive halving.
In response to the post, the creator of the S2F model, Plan B, made a bold predictionThis suggests that Bitcoin’s average price could potentially reach an impressive $5 million during the halving events of 2028 and 2032.
The cryptocurrency has done this consistently experienced bullish rallies after each halving eventfrom the first Bitcoin halving in November 2012 to the third in May 2020. As a result, many investors and crypto analysts provided a similar increase in the price of BTC during the 2024 halving.
These expectations can be attributed to the events that typically occur during a Bitcoin halving event. In each halving phase, BTC mining rewards are halved and the supply of the token is reduced, creating scarcity and increasing the value of the token.
While this one price projections about Bitcoin were created to keep investors on their toes. It is important to note that these remain speculations, and models like S2F can be subject to large margins of error.
BTC price struggles to hold $42,000 | Source: BTCUSD on Tradingview.com
Analyst reveals key factors to consider ahead of 2024 halving
Another crypto analyst, Ali Martinez, has revealed four crucial factors to consider as Bitcoin’s April 2024 halving approaches. Martinez highlighted the importance of the post-halving price corrections in Bitcoin’s 2016 and 2020 halvings, highlighting that BTC fell by 30% to 70% within a month of the halving phases.
He also mentioned BTC’s post-halving rallies, with the cryptocurrency seeing significant gains during the halving events of 2012, 2016 and 2020 to 700%, 2,850% and 11,000% respectively. The crypto analyst dug into the duration of the bull market after each halving, which lasted about a year or more.
He concluded his analysis by predicting that the next Bitcoin market top would occur around April or October 2025. At the time of writing, the price of BTC was $42,110, according to CoinMarketCap.
Featured image of Dall.E, chart from Tradingview.com
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