Crypto exchange founder, Ballet crypto wallet company CEO and founder, and fellow member of the Bitcoin foundation's board of directors, Bobby Lee, sees soaring prices in Bitcoin's (BTC) time to come, partially associated with its upcoming halving.

"The fact that this is the commencement block halving after Bitcoin became a mainstream investment option for many people further increases Bitcoin's potential upward cost movement compared with 2022," Lee said in a quote to Cointelegraph regarding the effect of the 2022 halving compared to previous years.

"The by few weeks show that we will run into a pregnant cost leap alee of the third block halving every bit mainstream investors plough to bitcoin as a condom haven asset whose supply is decreasing," Lee added.

Lee said he expects Bitcoin to hitting $10,000 by its block reward halving in May in a statement provided to Cointelegraph. The CEO also forecast a $25,000 price tag for BTC by December 2022.

The halving ways less inflation

Lee has projected positive price targets for Bitcoin on a few other occasions. In a tweet concluding November, the CEO predicted the asset will hitting $500,000 by 2028.

With Bitcoin's halving approximately one calendar month away, much of the crypto infinite expects higher prices, in line with previous halving outcomes.

Lee referenced previous halvings that were accompanied by upward toll action, noting:

"When new supply is cut in one-half and demand stays the aforementioned or increases, a price increase is a certainty. An increment of 25% to 50% by the tertiary halving in May is a very modest expectation."

Global weather condition might propel Bitcoin'southward cost

The world currently fights the coronavirus and a struggling economy, which likewise factors into Bitcoin'due south price. "I expect a huge surge in demand for cryptocurrency over the next few weeks as Bitcoin's inflation slows down with the block halving while governments continue to inflate currencies to mitigate the economic impact of the global pandemic," Lee posited, adding:

"As a greater amount of fiat money chases a limited corporeality of goods and services, a pregnant increment in inflation is inevitable, which will crusade prudent investors to plow to Bitcoin every bit a prophylactic haven to preserve their purchasing power."

The asset'south halving, matched with current worldwide conditions, could see crypto's pioneer asset blow past its best high, according to Lee. "I am convinced bitcoin will exceed its $20,000 peak from late 2022 to attain a new all-time high of $25,000 by the finish of 2022."

Ballet, Lee's wallet outfit, will bear several promotions in light of the halving and future BTC prices.

Contrary to the hype effectually the halving, however, only two information points are available for price comparison. Several experts also hold unlike toll expectations for this halving.

UPDATE April 8, 16:27 UTC: This article has been updated with information Cointelegraph received from Bobby Lee later on initial publication.