itcoin">Bitcoin is nearing a crucial period known as the “Danger Zone” – the weeks leading up to its highly anticipated halving event on April 20. Historical data suggests that itcoin">Bitcoin’s price tends to dip during this pre-halving window, with previous cycles witnessing drops of 40% in 2016 and 20% in 2020.
Despite this potential volatility, top crypto executives remain optimistic about itcoin">Bitcoin’s long-term trajectory. Binance CEO Richard Teng expects the world’s largest cryptocurrency to soar past $80,000 by the end of 2024, buoyed by increasing institutional demand and the limited supply resulting from the halving.
Teng cited the growing adoption of itcoin">Bitcoin ETFs in the US, which currently hold $57 billion in assets under management, as a driving force behind this bullish outlook. He acknowledged that the path to $80,000 might not be a straight line, with price fluctuations expected along the way.
Similarly, Kris Marszalek, the co-founder and CEO of Crypto.com, views the recent price dip as a “healthy” correction that removes excess leverage from the market. He anticipates a “steady ramp-up” in itcoin">Bitcoin’s value, with less severe price swings as the asset matures, and attracts long-term investors seeking multi-year holding periods.
While the “Danger Zone” looms, the confidence expressed by industry leaders highlights the growing institutional interest and the potential impact of the upcoming supply squeeze on itcoin">Bitcoin’s future performance. As the halving event draws near, the crypto community will closely monitor price movements, weighing historical patterns against the evolving market dynamics shaping itcoin">Bitcoin’s trajectory.
