Bitcoin Price Gains Momentum, Fueling Hopes for Pre-Halving Rally

Bitcoin has recently demonstrated significant momentum, experiencing a surge of 4.76% in a single day, propelling its value towards the $70,000 mark. This upward trend has prompted speculation that Bitcoin could reach $70,000 before the upcoming halving event and potentially ascend to $100,000 afterward. Experts such as Hunter Horsley, CEO of Bitwise, attribute this growth to discreet investments by Registered Investment Advisors and multi-family offices, despite the lack of public acknowledgment.

Bitcoin Price Momentum Regains Strength, Fueling Anticipation for Pre-Halving Surge

London, United Kingdom - Bitcoin's price has experienced a significant rebound, surging by 4.76% in a single day to reach $64,662 at the time of writing. With a market capitalization exceeding $1.27 trillion, Bitcoin continues to display a bullish trend.

Expert Predictions Fuel Optimism

The recent price surge has prompted experts to predict a further upward trajectory for Bitcoin, potentially surpassing $70,000 before the upcoming halving event and reaching $100,000 after its completion. Hunter Horsley, CEO of Bitwise Asset Management, is among those who anticipate this significant increase.

Industry Giants Invest Discreetly

Horsley believes that large financial institutions, including Registered Investment Advisors (RIAs) and multi-family offices, are discreetly investing in Bitcoin. Despite a lack of public pronouncements, these firms are reportedly researching and incorporating BTC into their clients' portfolios.

"Right now countless RIAs and multi-family offices are buying bitcoin and doing homework. But almost none of them are saying anything about it publicly," Horsley stated in a recent tweet.

According to Horsley, this private investment approach is intended to avoid unnecessary attention. However, he expects these firms to become more vocal about their Bitcoin investments in the future.

Halving Impact on New Demand

Horsley emphasizes that the impact of the halving is not solely dependent on the views of existing holders but on the inflow of new and consistent demand. He believes that there will be a significant surge in new demand in 2024, setting the stage for a transformative halving event.

"The impact of the halving isn't based on the views of fully deployed existing holders. It's a function of if there will be meaningful consistent new demand, alongside the reduction in the daily availability of natural sellers," Horsley explained.

BitMEX Co-Founder Shares Ambitious Prediction

Arthur Hayes, Co-Founder of BitMEX, has also made bold predictions about Bitcoin's post-halving trajectory. He anticipates that the value of Bitcoin could soar well above $100,000 and potentially reach $750,000 by 2026.

Hayes's previous predictions have proven accurate, adding credibility to his current forecast. The anticipation surrounding the halving and the bullish sentiment from industry experts suggest that Bitcoin is poised for a significant price surge in the coming months.