The company behind the world’s leading digital asset IRA technology platform has released new data indicating that Bitcoin (BTC) will see an exponential price surge after the third halving.
Bitcoin IRA anticipates that BTC’s decreased supply and increased demand, following the May 11 halving that slashed Bitcoin block rewards from 12.5 BTC to 6.25 BTC, will cause the price of the leading cryptocurrency to increase dramatically. The event effectively reduced the cryptocurrency’s inflation rate to 1.8%, which is lower than the 2% inflation target of the Federal Reserve and other central banks.
Bitcoin IRA chief operating officer Chris Kline says the firm’s record transaction volume in April and May shows that demand for Bitcoin inside IRA and 401(k) accounts is increasing.
“As more investors look for retirement alternatives to the traditional stock market and awareness of cryptocurrency continues to build, a promising trend will continue for Bitcoin.”
The company expects Bitcoin to follow an upward trend with substantial gains, as it did after the last two halvings which triggered roaring bull markets. The price of Bitcoin jumped 8,189% after the first halving in November of 2012. After the second halving in July of 2016, the leading cryptocurrency surged 2,237%.
If the historical trend continues, Bitcoin IRA expects the value of BTC to explode to six figures.
“With the third halving just happening in early May 2020, Bitcoin’s price could soon rise to exceed $280,000.”