Historical patterns surrounding past Bitcoin halvings suggest BTC could surge to $300,000 by the peak of this ongoing bull market, according to Tether (USDT) co-founder William Quigley.
In a new interview with CNBC, Quigley clarifies that he’s not making a $300,000 BTC prediction, just pointing out that such a target is possible based on historical patterns. Bitcoin’s upcoming halving is currently slated for April 18th.
The Tether co-founder says the top crypto asset is currently in a stronger fundamental position than it was before its last halving in May 2020, citing Bitcoin’s ballooned derivative volume and the newly approved spot BTC exchange-traded funds (ETFs).
Quigley also notes that Bitcoin usually skyrockets after its halving.
“Bitcoin is maybe the only globally traded asset that I know of whose demand is purely based on sentiment. There’s not a Bitcoin company, there aren’t Bitcoin price-earning ratios.
It’s just a sentiment-driven token and what you can say about that of course is that sentiment has no limits. You can always be more optimistic, and so this rally may be the biggest we’ve seen.”
Bitcoin is trading at $66,241 at time of writing. The top-ranked crypto asset by market cap is up nearly 4% in the past 24 hours.
I
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
The post $300,000 Bitcoin (BTC) Price on the Table, Says Tether Co-Founder – Why This Bull Run May Be the ‘Biggest We’ve Seen’ appeared first on The Daily Hodl.
