With the Bitcoin halving less than 75 days away, experts are starting to give their predictions on post-halving gains.
While the estimated figure varies, most agree that the Bitcoin halving will lead to all-time high prices in the coming months.
Although Bitcoin provides the safest returns for the upcoming event, traders are starting to diversify into lesser-known projects capable of producing higher 10x gains following the halving.
In particular, the newly emerging decentralized cloud mining platform Bitcoin Minetrix ($BTCMTX) continues turning heads after raising an enormous $10 million as traders positioned themselves as early adopters before the Bitcoin halving event.
Bitcoin Halving Less Than 75 Days Away
The next official Bitcoin halving event is now less than 75 days away, and traders are starting to find the best positions to capitalize on the event.
The halving has historically been known to produce a bull run in the months after the event, and traders expect a similar response this time.
The estimated date for the halving is believed to be around April 20, 2024, although different calculators predict various dates.
The halving is a hard-coded event in the Bitcoin blockchain that causes the number of $BTC rewards provided to miners for finding blocks to be reduced by 50%.
It means the number of newly minted Bitcoin entering circulation is slashed by half, reducing the increasing circulation.
Only 21 million $BTC will ever exist, and the halving ensures that fewer $BTC are minted as time goes on, making the cryptocurrency more scarce.
The upcoming halving event will see the block reward slashed from 6.25 BTC per block to 3.125 BTC.
Experts Predict a $170K Price Within 18 Months of Halving
With the halving event expected to be a very violent bullish catalyst, many analysts are starting to give their predictions about where the price could end up following the halving.
Although nobody knows where $BTC prices might reach in the cycle, a survey conducted with 10,000 cryptocurrency experts revealed that 84% are expecting Bitcoin to exceed the previous all-time high price in the coming bull run;
However, some experts are making their predictions, with Skybridge Capital’s founder believing that a $170,000 price tag is feasible.
Anthony Scaramucci believes the figure is possible by analyzing previous Bitcoin block halving cycles according to the following theory;
“”The day that Bitcoin halves, multiply it by four [and] 18 months later, and it’s been uncanny that that’s been the price of Bitcoin.””
What Other Projects Are Better Alternatives?
While Bitcoin provides the safest returns following the halving event, there are alternative projects that offer much higher gains for smaller sums of capital.
As a result, many traders are starting to diversify a small portion of their portfolios into newly emerging projects that are likely to be directly impacted by the block halving.
In particular, Bitcoin Minetrix ($BTCMTX) continues turning heads as traders believe it will revolutionize cloud mining after the halving.
Bitcoin Minetrix Raises Astonishing $10 Million As Stake-to-Mine Gains Traction
The momentum continues to grow for Bitcoin Minetrix ($BTCMTX), with the Bitcoin block halving approaching as investors pile an astonishing $10 million into the decentralized cloud mining platform.
The project introduces a novel stake-to-mine mechanism that makes it easy for everyday users to mine Bitcoin in a decentralized ecosystem.
The entire goal behind Bitcoin Minetrix is to remove third-party scams in the cloud mining sector, such as locking miners into long-term contracts and leaving miners short on expected earnings.
To start mining, users have to buy and stake $BTCMTX tokens to earn Mining Credits, which can be burnt in exchange for mining time on the Bitcoin Minetrix solution.
The tokenization of the process ensures miners stay in control of their funds as $BTCMTX can be unstaked and sold.
In addition, as smart contracts manage user allocations, miners can be sure not to be left short on their expected earnings.
Given the rapid rise to $10 million, investors are clearly backing $BTCMTX as a disruptive force in the cloud mining space.
The token can currently be purchased at the early adopter price of $0.0132. However, a rising pricing strategy means those who invested earlier benefit the most from the lower entry price.
Overall, Bitcoin Minetrix is here to change the cloud mining dynamic, offering miners an avenue to profit following the Bitcoin halving.