Bitcoin to hit $100K in 2024? Canaan VP weighs up 2024 halving opportunities
Canaan vice president Davis Hui believes a supply deficit following the next Bitcoin halving will drive its price past $100,000. Executives from prominent mining and manufacturing firms believe market forces resulting from the fourth Bitcoin halving scheduled in 2024 could force the price of Bitcoin (BTC) past $100,000. Magazine editor Andrew Fenton spoke to Canaan vice president Davis Hui following a panel discussion at Canaan’s Avalon Bitcoin and Crypto Day (ABCD) in Singapore. Hui and a panel that included Bitcoin mining ecosystem executives from Singapore, Kazakhstan and the United Arab Emirates all offered BTC price predictions around $100,000 in 2024 resulting from the effects of the latest Bitcoin mining reward halving . Related: Bitcoin all-time high in 2025? BTC price idea reveals ‘bull run launch’ Hui told Cointelegraph that the supply of Bitcoin would be drastically reduced with the reward halving down to 6.25 BTC per block, while traditional finance institutions are sh...