The dust has settled on the 2023 halving, but a new question emerges: where will Bitcoin be in 2028 when the digital gold gets another supply squeeze? Experts are sharpening their predictions, and the future looks bright for some.

Price on the Rise: Bitcoin's Bullish Trajectory

Analysts foresee a significant price surge by 2028, fueled by the "halving effect." This economic mechanism cuts the number of new Bitcoins miners receive, historically driving prices up. Swyftx analyst Pav Hundal predicts a minimum 100% increase, placing Bitcoin around $120,000.

The sentiment gets even rosier with Henrik Andersson of Apollo Crypto. He envisions a peak of $200,000 before 2028, bolstered by wider institutional adoption through Bitcoin exchange-traded funds (ETFs). Caroline Bowler of BTC Markets cites forecasts by investment banks like Standard Chartered, which echo a similar $200,000 target by 2025 - a trend supported by the recent ETF launch.

Beyond the Price Tag: Bitcoin's Global Leap

Looking beyond pure dollar figures, some experts see the 2028 halving as a milestone for broader cryptocurrency adoption. Jonathon Miller of Kraken Australia emphasizes this aspect, hoping for a future where the halving process becomes widely understood, a sign of the technology's mainstream acceptance.

Miners on the Brink: A Potential Pitfall

However, amidst the bullish forecasts, a dark cloud looms – miner profitability. With reduced rewards post-halving, there's a risk that mining Bitcoin becomes unsustainable. Reports suggest Bitcoin needs to stay above $40,000 for publicly traded mining companies to survive.

A Light at the End of the Hashrate?

Not everyone is fazed by these concerns. Andersson highlights the rise of alternative revenue streams for miners, such as fees generated by Ordinals and upcoming protocols like Runes. Similarly, Caroline Bowler dismisses worries about mining becoming "too expensive," calling them overblown.

The Verdict: Buckle Up for a Bitcoin Rollercoaster

The road to 2028 for Bitcoin promises to be exciting, with the potential for skyrocketing prices and wider adoption. However, challenges around miner profitability remain a hurdle. Only time will tell if Bitcoin emerges a champion or succumbs to the pressure.