MicroStrategy co-founder Michael Saylor listed three factors that could trigger a tenfold increase in Bitcoin’s value in the short to medium term. In this respect he is writing CoinDesk portal.
The first two conditions are halving (reduction in the rate of issuance of new bitcoins) and increased demand for cryptocurrency.
Bitcoin halvings occur approximately every four years, and the next halving could occur in April next year. Monthly Bitcoin sales are planned to halve in 2024. They currently reach nearly $1 billion.
The third factor is that most small cryptocurrencies have withdrawn from the market.
Two weeks ago the price of Bitcoin increased by almost 10%, reaching 30 thousand dollars, and on October 24 its value exceeded 34 thousand dollars. The rate of this cryptocurrency is determined only by the demand of speculators, so it is almost impossible to predict this candidate. Nikolai Kulbaka from economic sciences explained this dynamic.
Previously it was The date of the next peak in Bitcoin value has been announced.