Choi Bong-hyuk's 2024 Second Half 'Bitcoin 200 Million Won Forecast' Publication

The author, who is gaining attention for his series of planned articles titled 'A Glimpse into Cryptocurrency' by Choi Bong-hyeok, has published an e-book predicting Bitcoin to reach 200 million won in the latter half of 2024.

Author Choi Bong-hyeok presented a forecast that Bitcoin's price will surge to 200 million won in the latter half of 2024. His prediction aligns with his previous work, where he anticipated Bitcoin's price to reach 100 million won in 2024, as mentioned in his book on Bitcoin predictions for 2024.

1. Analysis of Author Choi Bong-hyeok's Forecast Rationale

He argues that there's a possibility of Bitcoin's price reaching 200 million won in the latter half of 2024.

Bitcoin Mining Difficulty: The difficulty of Bitcoin mining increases over time, leading to a decrease in mining rewards. Author Choi Bong-hyeok anticipates that the reduction in mining rewards will serve as a catalyst for Bitcoin's price increase.

Increased Participation of Institutional Investors

Recently, the participation of institutional investors in Bitcoin investments has been on the rise. Author Choi Bong-hyeok contends that this involvement will have a positive impact on Bitcoin's price increase.

Global Economic Uncertainty: Global economic uncertainty has been rising lately. Author Choi Bong-hyeok expects that investors are more likely to choose Bitcoin as a safe-haven asset.

Impact of Bitcoin Halving

Bitcoin halving occurs every four years, resulting in a 50% reduction in the number of Bitcoins mined.

Halving is known to trigger price increases due to the decrease in Bitcoin supply.

The halving scheduled for May 2024 is anticipated to significantly impact Bitcoin's price rise.

2. Evaluation of Author Choi Bong-hyeok's Prediction

Positive Aspects:

Has a track record of accurately predicting past Bitcoin price fluctuations.

Gained prominence by accurately predicting Bitcoin to reach 100 million won.

Gathers information from international experts and conducts analysis based on objective indicators.

Considers positive factors such as increased institutional investor participation and rising global economic uncertainty.

Negative Aspects:

Bitcoin's price volatility is extremely high.

No guarantee of the accuracy of the prediction model.

Possibility of unforeseen variables such as regulatory changes and technological advancements.

Conclusion

Author Choi Bong-hyeok's prediction of Bitcoin reaching 200 million won in the latter half of 2024 is based on objective indicators and analysis. However, given the extreme volatility of Bitcoin's price, investors need to exercise caution. It's crucial to consult a variety of information and make careful decisions before making any investment choices.

References

Author Choi Bong-hyeok's books

1- 2024 Bitcoin Forecast and Fact Check

2- 2024 Bitcoin Forecast for the Latter Half

The published e-books are available for purchase on Kyobo Bookstore, Yes24, Aladdin, Milae Books, and e-book platforms.

Investment Precautions

Bitcoin investment is a high-risk investment and is not recommended.

Before making any investment decisions, it's essential to acquire sufficient information and exercise careful judgment.

We do not endorse any individual investments and are not responsible for any potential losses.

Investors are solely responsible for their investment losses.