Bitcoin prices (BTC-USD) are rallying after the highly anticipated halving event occurred on Friday. SunnySide Digital Founder and CEO Taras Kulyk joined Yahoo Finance to discuss the outlook for the cryptocurrency in the post-halving landscape.
Kulyk notes that the rally in bitcoin prices this year was attributed to factors such as geopolitical instability and the introduction of spot bitcoin exchange-traded funds (ETFs) that saw massive inflows. Since the halving, he points out that new protocols have launched, driving "developer and transaction fee" values for mining companies.
According to Kulyk, this current halving demonstrated "the adoption, integration [of bitcoin] into overall global portfolios." With bitcoin increasingly being viewed as "a supplement to gold" in various global markets, he describes it as "a safe-haven asset." Kulyk foresees bitcoin prices potentially reaching the $100,000 to $150,000 threshold by the end of 2024.


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