The cryptocurrency industry has several important events that it looks forward to. Bitcoin’s halving event is one among them. The king coin’s rise above the $100,000 mark was also widely credited to the halving that occurred back in 2024. The process of reducing the block reward that miners receive to uphold scarcity and control inflation is the main purpose of halving. The most recent halving pushed the reward from 6.25 BTC to 3.125 BTC. The next halving is expected to take place in the year 2028. The upcoming Bitcoin halving is about three years away. During this period, the block reward will drop to 1.5625 BTC.
Also Read: BlackRock Warns: It’s Now Riskier to Ignore Bitcoin Than Own It
Is Bitcoin Still Trading Above the $100,000 Mark?
The last couple of months have been challenging for the world’s largest cryptocurrency. The asset went from trading at an all-time high of $109,114.88 down to a low of $74,436.68. At the time of writing, BTC was trading at $94,570.08. This comes after a notable recovery of 13.15% throughout the past month. But during the last 24 hours, BTC has dipped by 1.16%.
Also Read: De-Dollarization: Gold, Bitcoin, or Yuan, BlackRock CEO Picks USD Replacement
2028 Price Prediction
According to data from CoinCodex, Bitcoin is expected to record a significant rise over the next three years. It is projected that the king coin will trade between $76,257 and $139,061 in 2028. This comes with an average yearly price of $104,849. Compared to the present rates, this may yield a possible return on investment of 47.12%.
If Bitcoin hits the anticipated high of $139,061 during its next halving, a $500 investment in the cryptocurrency today, at $94,528.86, may increase to almost $734.93 by 2028. This would indicate a return of almost 47% over the ensuing years, underscoring Bitcoin’s potential for modest development, but one that is still susceptible to the unpredictability and volatility that characterize the cryptocurrency market.
Also Read: Bitcoin Will Be More Valuable Than the US Dollar: Venture Capitalist