Bitcoin halving is fast approaching. Crypto enthusiasts are really preparing for this periodic event, expecting the post halving to be favorable for the price growth of BTC and other digital currencies in the market, just as it played out in the past.
At the same time, some crypto enthusiasts are of the opinion that Bitcoin halving has priced in, so no significant price increase should be expected after the event.
Preston Pysh Predicts $300,000 for Bitcoin (BTC) after Halving
Warren Buffett expert, Preston Pysh said he thinks the next target for Bitcoin is between $80,000 to $100,000 price, which will be followed by $200,000 or $300,000.
Preston believes that BTC would experience exponential increase after halving like the past scenarios. Preston Pysh said this during an interview with podcast host Nathan Latka
He said:
“I would tell you that I think the next orbit level is $80,000 to $100,000. It’s gonna go straight through that number, and it’s probably gonna go to $200,000 or $300,000.”
Pysh said that electrical expenses are so far the driver of the price, which makes him look forward to seeing Bitcoin (BTC) in a fresh price bull run a month or two months after halving.
Bitcoin (BTC) Price Trend over the Past Weeks
Over the past weeks, Bitcoin (BTC), the first and largest digital currency, has been changing hands between $6,000 and $7,000 price levels, which makes some crypto pundits suggest a possible downward trend anytime soon if it lingers too long at this price level.
Since Bitcoin lost its footing at $9,000 price region in March, it has been struggling to forge ahead in its quest for top prices.
In the past few weeks, the digital currency has failed to hold $7,000 support level on more than three occasions. However, it recently managed to break above $7,000 resistance, but no one is sure of its stability at the price level, even some crypto analysts, such as Crypto Michael are starting to anticipate.
Dear traders,
Could $BTC please leave $6,800-7,300 range?
Thanks
— Crypto Michaël (@CryptoMichNL) April 23, 2020
At the time of filing this report, BTC is trading at $7,088.56, with a 2.23% price increase in the last 24 hours.
