Poll: 60% of investors expect Bitcoin rally after the halving

Almost 60% of participants in the poll by popular blogger PlanB said they believe in the start of a Bitcoin bull market after halving in Bitcoin’s network in 2024.

“Will the Bitcoin halving in April 2024 lead to a new bull market, as the halvings in 2012, 2016 and 2020 did? Or is this a different case (due to macroeconomics, interest rates, environment, or other reasons) and there will be no bull market in 2024–2025?” — asked PlanB’s followers.

As of writing, 17,329 people had taken part in the poll. The responses were distributed as follows:

• 59.9% — a bullish market after the halving, again;
• 17.3% — no bull market in 2024-2025;
• 22.9% — I don’t know.

Earlier JPMorgan analysts said that the forthcoming halving in the Bitcoin network will prove a decisive test for miners due to the reduction in block rewards and rising costs.

As reported in August, Blockstream CEO Adam Back predicted an increase in the price of the first cryptocurrency to $100,000 ahead of the halving. He put up one million satoshis (0.01 BTC) on it.

Markus Thielen, Head of Research at Matrixport predicted Bitcoin to rise to $125,000 by the end of next year. Analysts at Standard Chartered arrived at a similar conclusion — $120,000 in 2024.