In the next few hours Bitcoin will hit a major milestone that history suggests will send the price of Bitcoin up 501% to $342,000.
This upcoming milestone for Bitcoin is rare. It’s only happened twice in the last 8 years. But each time, this milestone has marked the launching point for Bitcoin’s most profitable runs to new record highs.
Here is the deal:
Bitcoin halving day will happen sometime tonight or tomorrow morning.
This is important because there are only 21 million Bitcoins that can ever be created. That is all that the Bitcoin system was designed to make.
Right now there are about 19,500,000 in circulation. That’s right – out of 21 million possible Bitcoins, 19.5 million already exist and are owned by individual investors, investment funds like ETFs, companies, and countries (heck the U.S. government even owns 94,000 Bitcoins!).
There’s no way around it – the world is very close to having all the Bitcoin there will ever be. Once we get to 21 million, not one new Bitcoin will ever be created.
And within hours the reward given to Bitcoin miners will be cut in half going from 6.25 Bitcoin to 3.125 Bitcoin.
Can you imagine if the profits from drilling oil suddenly got cut in half? The price of oil would go up dramatically because there would be less of it.
Supply and Demand
The last time the Bitcoin halving hit was in May 2020. One Bitcoin was trading for $9,700. 12 months later, Bitcoin hit $58,250.
The time before that, the halving day landed in 2016. That’s when I told my readers to buy Bitcoin at $492 apiece…it’s now trading at $63,000!
Here is what one reader wrote to me:
What a dude you are! Recommending Ethereum at $ 92.00. I followed you at exactly that – $92.00. Currently, DEC 18th, $825.00. joined too late for your BTC poke at $450.00 then, but you got me into crypto. You rock. I recommend it to you.”.
— C. Kelly
I’m not the only one talking about Bitcoin halving. Not by a long shot…
Forbes says: “We’ve seen Bitcoin’s price significantly increase a year before the halving date and a year after…”
Standard Chartered is ramping up its bullish Bitcoin prediction, targeting as much as $120,000 by the end of 2024…
Tyler Winklevoss predicts Bitcoin will hit $500,000 soon….
And it’s why Cathie Wood, CEO of Ark Invest, predicts that Bitcoin could reach an astounding $1.48 million by 2030…
The basic law of supply and demand says that Bitcoin will inevitably become more valuable when the Bitcoin halving event gets triggered tonight. And most of the gains come after the halving event.
If you don’t own some Bitcoin you should get some. If you just want to use your regular brokerage account you can buy the ETF. Franklin Templeton Digital Holdings Trust (EZBC) has the lowest fees at 0.19%.
All the best,
Christian DeHaemer
Outsider Club
