Rekt Capital (@rektcapital) posted a provocative Tweet recently which has been getting a fair amount of buzz. He lays out theories that if Bitcoin follows its other post-halving rallies, it could grow somewhere between 12,000% and 13,378% over the next few years.
Everyone is talking about the next Bitcoin halving in May 2020 as if a major run-up will precede it. Though, if we base our predictions on previous halving events, we find that Bitcoin’s parabolic rises seem to always happen after the halving. In fact, each period between each halving has seen Bitcoin explosively rise.
Now, noted crypto-Twitter commentator Rekt Capital (@rektcapital) is making the case that, if we learn from history, even our highest expectations may be limited. In the four years after the first halving, Bitcoin rose around 13,378%. After the second halving, Bitcoin’s parabolic rise continued, rising some 12,160%.
Now, with the third halving soon upon us, it seems likely that Bitcoin will continue this trend. If BTC were to rise in the same percentage range after the third halving, its price could surge somewhere between $385,000 and $425,000.
How much has #Bitcoin rallied as a result of each of its Halvings to date?
If Bitcoin rallies anything between 12,160 – 13,378% as a result of Halving 3…
The price of one Bitcoin will be $385,000 – $400,000#Crypto
— Rekt Capital (@rektcapital) September 7, 2019
Bear in mind, that if this price prediction comes true, it won’t likely happen immediately after the halving. These numbers would take years to materialize since the gains being calculated are from the beginning of the halving to the next one. So, Rekt Capital is suggesting that we may see $400,000 per BTC by 2024.
When considered in years, the prediction seems reasonable but overly optimistic. After comparing the stages from the first halving to the second, and from the second to the third, percentage gains seem to be declining. We can likely expect that if a bull run occurs after the third halving, it will be significantly less, but still parabolic. It just may be enough to push Bitcoin over the $1 trillion market capitalization — a breakthrough which would likely cause a FOMO of retail interest if reached.
With the next halving scheduled for sometime in May 2020, there is much to look forward to for Bitcoin holders and investors.
Do you believe that Bitcoin can hit these astronomical heights? Is this just delusional or do you see it as within the realm of possibility? Let us know your thoughts below.
Buy and trade cryptocurrencies with a 100x multiplier on our partner exchange, StormGain.
Do you want to BeInCrypto? Join our Telegram Trading Community for exclusive trading signals, educational content, discussions and project reviews! Images courtesy of Shutterstock, Trading View and Twitter.