David – Crypto Speculator
Controversial Ben Armstrong, a.k.a. "BitBoy," a popular cryptocurrency blogger on YouTube, has made a number of forecasts regarding the Bitcoin price over the next three years. He predicts that the king cryptocurrency will reach new record highs at this time before the next bear market.
Armstrong tweeted that Bitcoin is currently trading around the $16,800 level, which is where he anticipated it to be. He predicts that BTC will start moving again toward the $30,000 by the end of the following year. According to his tweet, the likelihood of reaching new all-time highs is high for the end of 2024.
The subsequent Bitcoin halving will happen this year. Armstrong emphasised in a tweet earlier today that he thinks BTC will increase following upon upcoming halving when miners start to produce half as much BTC from each block. Naturally, none of this is guaranteed, but that is his opinion.
Every four years, Bitcoin mining rewards are divided in half; the most recent occurred in early May 2020, when the virus raced across the world. Two new all-time highs, however, were not attained in that year but rather in 2021. The Federal Reserve was said to have played a significant role in it by starting its printing machine and pumping more than $6 trillion in "survival checks" into the economy in 2020 alone.
BitBoy stated his "knee jerk reaction," which was that Bitcoin will cost $120,000 per coin once it reaches a new record high.
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