Although the halving significantly reduced miners' profitability, many analysts believe that the BTC price will rise in anticipation of a supply shock.

Speaking to Cointelegraph, Swyftx chief analyst Pav Hundal expects the Bitcoin price to rise to $120,000 at worst by the next halving. Recalling the 2013, 2017 and 2020 halvings, Hundal said:

"Our main scenario is that this trend continues and we see a high double or low triple-digit percentage point increase in prices until the next halving."

Will Bitcoin price hit $200,000?

Another person who shared his market forecast was Henrik Andersson, chief investment officer at Apollo Crypto. Andersson believes that the Bitcoin price will see $200,000 by 2028. The crypto expert expects institutional investor interest in spot Bitcoin ETFs approved in the US to increase.

Crypto exchange abuse: Millions of dollars missing! Crypto exchange abuse: Millions of dollars missing!

Another person who spoke to the sources, BTC Markets CEO Caroline Bowler, agrees with Andersson on ETFs. However, Bowler thinks the BTC price will reach $200,000 sooner. Taking into account the forecasts of investment banks such as Standard Chartered, she set this figure as her target by the end of 2025.