Bitcoin Price ‘Floor’ to Jump to $7-8K Post Halving
However, according to data from a top crypto industry analyst, the price floor of Bitcoin could jump to as much as $7,000 to $8,000 immediately after the halving takes place this coming May. The lack of sell pressure causes prices to grow quickly, resulting in what many crypto analysts refer to as a “miners bottom” – or an absolute price floor to which Bitcoin price won’t trade below because if it does, miners will stop selling and prices eventually stabilize.
If Bitcoin’s price floor is soon set at between $7,000 to $8,000, it may not be too long until the leading cryptocurrency by market cap never again trades below 5-digit prices. And while $10,000 failed to incite FOMO the last two times since the bear market began, the third time could be the charm that when combined with the halving, helps propel Bitcoin price to new highs.