Historical data predicts Bitcoin price target to halve in 2028
The price of Bitcoin has increased by approximately 650% since the last Bitcoin halving in 2020. If history repeats itself, Bitcoin could reach the $435,000 price level before the 2028 halving.
According to TradingView, the price of Bitcoin has risen approximately 658% since the last Bitcoin halving in 2020 and is currently trading around the $66,000 mark.
The 2024 Bitcoin halving is less than three weeks away. If historical charts were to repeat themselves, Bitcoin's current price of $66,000 would reach $434,280 per unit if it performs similarly to the current cycle by 2028.
However, Bitcoin's post-halving rally has produced diminishing returns over the years. Before the first halving in 2012, Bitcoin's value rose from virtually nothing to $12.5, an increase of 12,400%. The price of Bitcoin rose 5,200% to $650 at the 2016 halving and 1,200% to $8,500 at the 2020 halving.
