What will be the price of Bitcoin during the upcoming 2028 halving event?

Saturday’s Bitcoin halving event has officially reduced the rewards for miners from 6.25 Bitcoin per block to 3.125 BTC. However, experts are now speculating on the potential future value of Bitcoin by the next halving in 2028. While miners will receive less payment for securing the network, many analysts believe that halving events often precede significant price increases due to the reduced supply of new BTC hitting the market. Pav Hundal, the lead analyst at Swyftx, predicts a price increase of at least 100% by the 2028 halving, placing Bitcoin around $120,000. Henrik Andersson, the chief investment officer at Apollo Crypto, has a more bullish sentiment and predicts a peak price of around $200,000 before 2028. He attributes this to the wider acceptance of Bitcoin by institutions, as evidenced by the approval of eleven spot Bitcoin exchange-traded funds (ETFs) in the US. Caroline Bowler, CEO of BTC Markets, also considers external predictions, such as Standard Chartered’s forecast of Bitcoin reaching $200,000 by the end of 2025. Jonathon Miller, Managing Director at Kraken Australia, sees the halving as a reminder of the progress towards global adoption and hopes that crypto adoption will have accelerated significantly by the next halving. However, there are concerns that the reduction in miner rewards could make Bitcoin mining unprofitable in the long run. Cantor Fitzgerald’s report suggests that Bitcoin’s price would need to remain above $40,000 for publicly traded mining companies to stay in business. Some experts suggest that mining firms could explore alternative revenue sources, such as fee-generating applications like Ordinals and upcoming protocols like Runes and layer-2 networks like Stacks. Despite these concerns, Bowler believes that the current worries about mining and energy efficiency are exaggerated. Overall, the Bitcoin halving event has sparked speculation about future price increases and the potential challenges faced by miners.