In the swarming, ever-changing realm of cryptocurrency, the name Marcel Knobloch – or Collin Brown, as he’s better known within the crypto community – holds great weight. Adorned with the mantle of a crypto guru, Brown recently ventured into the realm of prediction, stating with fortitute that Bitcoin – the world’s largest cryptocurrency – is set for an expansive leap into unprecedented heights. This audacious forecast coincides fittingly with the impending occurrence of a key event in the Bitcoin calendar – the Bitcoin Halving.
Brown provides insight into the anticipated Halving event – the fourth such occurrence in Bitcoin’s history – which he believes will transpire within the forthcoming 48 hours. According to cryptocurrency gospel, this event would slice Bitcoin’s current per-block output of 6.25 BTC by half, reducing it to a mere 3.125 BTC.
Brown reminisces about the sparkling aftermath of the previous Halving, which saw Bitcoin catapult to a staggering 700% growth. This unprecedented rise propelled the cryptocurrency to its former, record high of $69,000. This peak was a hallmark of the celebrated 2021 bull cycle. In mirroring the impacts of the previous Halving, Brown boldly predicts Bitcoin could surge to a dizzying $455,000.
It’s noteworthy that since the enigmatic creation of Bitcoin almost a decade and a half ago by Satoshi Nakamoto, the halving has been a programmed feature. Expected to push forth when the 840,000th block is created, the forthcoming Halving could expedite the value of Bitcoin by curtailing its supply.
Revisiting the narratives from the past, the trio of previous halvings has invariably led to significant leaps in Bitcoin prices, usually resulting in considerable gains. Brown shares data showcasing the first halving, after which Bitcoin experienced a meteoric ascent of 9,360%, skyrocketing from a mere $12 to around $1,135.
Nevertheless, it is crucial to remember that reaching this figure was no overnight achievement, rather it took approximately 371 days after the Halving. The second Halving in 2016, further escalated Bitcoin’s pricing from $650 to an astounding $19,640 – an increase of over 2,920%.
Recounting the recent event, the last Halving secured a robust 700% rise in Bitcoin prices, with figures springing from $8,626 to the earlier peak of $69,045. This peak, however, was a result of the cryptocurrency’s steady climb for over 500 days from the previous two cycles.
With facts gleaned from the historical data, Brown’s hypothesis appears a plausible possibility. If history is truly doomed to repeat itself, Brown’s prediction could take solid form in the coming year.
Despite Bitcoin’s signals of reaching its zenith at the new peak of $73,000, Brown retains an optimistic outlook. Post reaching this pinnacle in mid-March, Bitcoin has taken a plunge of over 10%. At present, Bitcoin is faltering alarmingly, currently priced at around $60,000 – the lowest since late February, and trading at $62,916, a fall of over 10% within a week. Despite the trading volume seeing an increase of over 20%, the market cap reveals a fractional drop of 0.2% from the day prior.
Observers cast the blame for Bitcoin’s dip on the planet’s political unrest and turmoil. The escalating tensions between Israel and Iran triggering panic among investors, prompting sell-offs, and spiralling into a wider market nosedive.
