'Bitcoin could surpass $50,000 mark in 2024'
'Bitcoin could surpass $50,000 mark in 2024' Bitcoin ' s rebound is just the start of rally that that will take it past $50,000 next year courtesy of a process known as halving that curbs the supply of new tokens, according to projections from crypto analysts. The largest digital asset has climbed 67% since December 31 in partial revival from an epic rout in 2022. While the tokan at the moment is struggling in the vicinity of $30,000, halving holds the potential to trigger an advance of least 81% , according Bloomberg Intelligence and Matrixport . A halving - or halvening - cuts in half the amount of token that Bitcoin miners receive as reward for there work . The quadrennial event is due next around April 2024 and is part of the process of capping bitcoin supply at 21 million tokens . The coin hit records after each of the last three halvings . The upcoming halving is currently about 50 % priced in based on previous cycle , said Jamie Douglas Coutts, a Blo...