The price of Bitcoin was close to 70k yesterday and the recent war has caused BTC to go down. I believe it is still expected to move up even further setting a new all-time high during the halving event as that has been the case in the last few times. There is no wonder that Bitcoin will keep creating new all-time highs in the coming years. There will be ups and downs but the overall graph will always see Bitcoin price going up every time there is a bull run and there will be a new all-time high set up.
Bitcoin halving on the 20th of April
We have less than 10 days for the Bitcoin halving event. This will be one of the biggest events happening in the crypto world. Anything to do with Bitcoin is a big thing because it is the mother of all cryptocurrencies. This event has attracted many investors and BTC's price has also increased. There is a prediction going on that the price might hit 100k soon and many altcoins will follow after the halving event is over.
After halving many investors might want to book their profits on Bitcoin and move to other investments. They might book profits and take their money to other altcoins. There is a possibility that an alt season might start if that happens. But there is no strong reason right now in the market for the altcoins to boom. Earlier we had so many things like NFTs, DeFi, etc that were the key terms for people to invest. Today we have run out of attractive things in the crypto world that can move people more towards altcoins. But there will always be something that will be attractive for the investors. Let's wait and watch.
Careful with the investment
Many experts are saying that it can be very hard to predict the price of Bitcoin and even altcoins during the halving event and after the halving event. People are advised to be very careful with their investments. Those who purchase BTC at an all-time high price might have to wait till the next bull run to see a new all-time high price of BTC. I know a few people who bought BTC at its peak and then had to sell them at half of the price since they needed the money. BTC did go up later but they lost the money. It is advisable to invest only the money you are ready to burn and not be dependent on this money for any reason.
It is expected that halving event can either move the price up or can bring the price down. It is hard to predict the situation. It is better to have the excitement levels low and avoid trading during those times. If we are ready to take the risk, then maybe someone can even pick a good fortune from the market during this time. There is a high chance that the price can go up or down based on the regulatory decisions made during the G20 that happened in India. Many governments are trying to make things strict and impose some regulations. This can make the price of some coins go down.
There is a common belief that the price of BTC after halving might go up either immediately or after some time. The reason is that there is a huge demand for BTC and many people might want to have their share. Most of the coins that long-term investors hold are locked and don't get back to the market. So, there is a high chance that there will be a huge demand for BTC in the market over the years. It is expected that maybe in 2140, all the BTC would get mined completely but that's a lot of years and many new generations will have to come to see that event.
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