Will Bitcoin Hit $100,000 in 2024?
In just 13 years, Bitcoin (CRYPTO: BTC) went from trading for just a few pennies to nearly $69,000 at the peak. Even though the world's original cryptocurrency is only worth about $21,000 today, many are optimistic that Bitcoin will rebound.
These hopeful price predictions use varying methods and different reasoning for their estimates. For this evaluation of Bitcoin's future price, we will focus on the patterns between halving events and use the year 2024 as the deadline, since that is when the next Bitcoin halving should occur.
Halving events are what helps make Bitcoin so unique. Bitcoin's code is programmed to ensure that the growth in supply falls with time. Since Bitcoin's code is open source, we can do a little math and find out that Bitcoin's block reward is cut in half every 210,000 blocks -- or roughly every four years.
Source Fool.com
