Nexo: The price of bitcoin should double in less than 8 months

Antoni Trenchev, co-founder of Nexo, a crypto lender, said: "If you look at the previous halving, the price of bitcoin should double in no more than eight months." This is clearly a bullish view and is not unusual among bitcoin's fans. Gareth Rhodes, managing director of Pacific Street, said: "It makes sense because the more supply constraints are expected, the higher the price will go." Greg Beard, chief executive of Stronghold Digital Mining, said that while enthusiasm for the halving was overblown, the recent rally was "much more than a passing frenzy". "Bitcoin is maturing as institutions embrace it," and "it is not surprising that the price of bitcoin will rise significantly over the next two years." However, Molly White, a prominent cryptocurrency critic, warned that "it is unclear to what extent past price swings were caused by the halving or simply related to it," adding that "the last halving coincided with large-scale macroeconomic changes caused by the epidemic, prompting a wave of short-term traders into cryptocurrencies."