BitBoy: Bitcoin will rise to $120,000 in 2024
Ben Armstrong (BitBoy), a well-known cryptocurrency netizen, believes that Bitcoin will hit another record high in 2024. He predicts that in 2024, Bitcoin will implement its fourth mining incentive cut in half, spurring the price to a peak of $120,000.
The next halving is expected to occur in 2024, when bitcoin production will be reduced and the reward will drop from 6.25 to 3.125 bitcoins in order to curb inflation.
The last halving of bitcoin occurred in May 2020, and in 2021, bitcoin hit a record high of $68,000. 2016 saw a similar halving, with bitcoin hitting a record high the following year, but it's worth noting that both halving and new highs were followed by a plunge in the price of bitcoin.
In this regard, Ben Armstrong recently shared his predictions for the next three years of Bitcoin.
The celebrity netizen reportedly believes that Bitcoin will regain $30,000 in 2023, hit a new high of $120,000 in 2024, and fall back into a bear market in 2025. But he finally added, "There is no guarantee that this will happen, these are just my opinions.