Lolli CEO Alex Adelman recently opined that the upcoming Bitcoin halving wasn't priced in during his interview with CNN's Julia Chatterley.
“Our users can earn 7% (Bitcoin) back across all of our different merchants, an avg & then the actual is about 30%...our highest today that you can earn," @trylolli CEO @alexadelman explains.— Julia Chatterley (@jchatterleyCNN) February 18, 2020
PLUS #BTC investing & whether the next "halving" is already priced in! @firstmove pic.twitter.com/89cmTK0Rb4
Adelman explained that BTC has only reached a tiny percent of the total population, and people still fail to understand it. Fundstrat's Tom Lee recently estimated that the Bitcoin price could quadruple if the coin doubles the number of users.
On top of that, major institutions are still in a wait-and-see mode. Hence, BTC is yet to see the full effect of institutional follow-through.
"When I talk to my friends that are on the deep institutional side that have billion-dollar hedge funds, they are still waiting. [...] I just don't think that it has been priced yet"
With that being said, the big difference between this halving and the two previous ones is that masses are already aware of BTC after its headline-grabbing bull run in 2017.
The halving that will take place in 2024 could be more priced in, according to Adelman. However, this year's supply reduction still has plenty of upside potential.
As reported by U.Today, some parabolic bulls predict that the BTC price could go to as high as $100,000 this year.
There are also permabears who believe the halving that estimated to take place in late April will be bearish for the price.