Cryptocurrency investor Charles Edwards has made a bold price prediction for Bitcoin, foreseeing it reaching $280,000 if the upcoming halving in April sparks a bull run like previous years.
Edwards believes 2020 was an outlier for Bitcoin due to external pressures like China’s mining crackdown and aggressive Fed tightening. With the Fed now on a looser path under Powell and a weaker dollar expected, Edwards thinks conditions are aligning for a Bitcoin surge.
Factoring in the halving supply shock and recently approved Bitcoin ETFs, Edwards arrives at a conservative near-term target of $300,000.
Historically, halvings have preceded massive Bitcoin rallies due to increased scarcity. Meanwhile, ETFs could attract fresh institutional funds. Of course, many variables influence prices, but Edwards cites reasoning why 800% returns are plausible given current circumstances.
