Swan CEO Sees Bitcoin Bottoming in October, Hitting $130,000 Before 2028 Halving
Bitcoin’s roughly four-year halving cycle, which cuts the block reward paid to miners, is widely watched as a milestone that can reshape supply and market expectations. Swan Bitcoin Chief Executive Cory Klippsten’s outlook centers on the run-up to the next halving in 2028, offering a bullish long-term view at a time when crypto prices have retreated and many alternative tokens are struggling to retain investor interest.
Klippsten said Bitcoin could reach a bottom in October between $53,000 and $57,000 before staging a rapid recovery. He expects the cryptocurrency to climb to $130,000 ahead of the 2028 halving, implying a sharp rebound from his projected trough. The Swan CEO also said most altcoins are “basically dead,” underscoring his view that capital and market confidence are likely to become increasingly concentrated in Bitcoin.
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The history behind this eventAnalysts See Bitcoin at $300,000, but Halving Data Point to Diminishing Gains
Bitcoin’s halving, which occurs once every four years, has historically preceded major bull-market peaks. But the full-scale entry of Wall Street institutional capital and the successive launch of spot ETFs are accelerating Bitcoin’s transition from a highly volatile speculative instrument into a mature, liquid asset. This sweeping change in market structure is prompting investors to reassess the predictive power of the traditional halving cycle.
Although analysts have optimistically forecast that Bitcoin could reach new highs of $300,000–$500,000 in 2029, historical halving data show diminishing gains with each cycle. Bitcoin surged 91-fold in its first cycle, 30-fold in its second and just sixfold in its third. With the multiples at each bull-market peak falling significantly, data experts warn that the era of gains measured in dozens of times may have ended after Bitcoin’s fourth halving in 2024.
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