Post-halving event, experts predict Bitcoin price could exceed $200,000 by 2028, despite concerns about mining profitability and network security.
From the recent Bitcoin halving, which reduced mining rewards from 6.25 to 3.125 BTC per block, industry experts have begun forecasting the potential price of Bitcoin by the next halving event in 2028. Historical data suggests that halving events, which decrease the supply of new Bitcoins entering the market, typically precede significant price increases. Analysts predict that by 2028, Bitcoin’s price could reach unprecedented levels, possibly exceeding $200,000.
Swyftx’s lead analyst, Pav Hundal, references historical trends to support predictions of substantial price growth by the next halving. According to Hundal, previous cycles saw dramatic price increases, from a 60,000% spike in 2013 to a 2,000% rise in 2021. Based on these patterns, a double or even triple-digit percentage increase in Bitcoin’s price by 2028 seems plausible. Investors are optimistic, considering the ongoing upward trajectory in Bitcoin’s value.
Market Influences and Miner Viability
Henrik Andersson of Apollo Crypto offers an even more optimistic view, suggesting that the price could soar to around $200,000 before 2028. He credits this potential surge to the growing institutional acceptance of Bitcoin, highlighted by the approval of eleven Bitcoin exchange-traded funds (ETFs) in the United States. These ETFs are expected to see substantial net inflows, estimated at around $65 billion in the current investment cycle.
Conversely, concerns remain about the profitability of Bitcoin mining post-halving. A report from Cantor Fitzgerald highlights that to remain profitable, the price of Bitcoin must stay above $40,000. Current prices support this profitability, but a drop below this threshold could jeopardize the operational sustainability of publicly traded Bitcoin mining companies.
Lastly, Jonathon Miller of Kraken Australia views the halving as an indicator of Bitcoin’s growing global adoption. He expresses hope that by the next halving, the widespread acceptance of cryptocurrencies will continue to increase, bringing even the most skeptical observers into the fold. This sentiment is echoed in the mining community, where new revenue streams are being explored. Innovations like Ordinals and the anticipated launch of protocols like Runes, as well as the adoption of layer-2 networks, are creating additional income opportunities for miners, thereby helping to offset potential losses from reduced block rewards.