Can Bitcoin surge to $122,000 post-halving?

There is a growing optimism due to its potential as ‘digital gold,’ bolstered by insider confidence.Predictions by analysts pointed towards a staggering value of $122,000 in 2024 following the BTC halving event.

Mike McGlone, a senior commodity strategist at Bloomberg, was asked about his opinion on the event. He commented, These ETFs simplify the process for investment advisers and money managers to recommend Bitcoin to their clients. “My opinion is that with these new ETFs, it has become exceedingly simple for registered investment advisers and money managers to recommend that theirHe further mentioned that BTC’s allure is not merely its status as a novel technology, but its capacity to act as a hedge against economic downturns, especially in scenarios where ‘money printer’ policies are reactivated.In November 2021, when Bitcoin was $63,000, the hash rate of the Bitcoin network was 160 trillion Tera hashes it’s now 4X.

Source: Digital Coin News (digitalcoinnews.net)

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