Upcoming Bitcoin halving fuels speculation about its value
The next bitcoin halving could occur between April 18 and 20, which accelerates speculation about the price it could reach as well as uncertainty regarding market volatility
April 18 is the approximate date for the Bitcoin halving to occur. With this day approaching, investors are speculating about the price that the main cryptocurrency on the market could reach.
The halving is a known phenomenon, which occurs every four years, when it reaches 210,000 blocks and “the reward that miners receive for verifying transactions in the Bitcoin network is reduced by half.”
A few days before it happens, the debate is intensifying and investors’ expectations are deepening, given that in the processes of 2012, 2016 and 2020 the digital currency experienced notable growth in the subsequent months.
In any case, there is no obligatory correlation between the halving and the value of Bitcoin. Furthermore, the cryptocurrency started in 2024 with ups and downs. In January the price was $44,168; on March 14 it stood at 73,737 and current price of the virtual asset is USD 70,500.
Analysts are clear that the halving will have an impact on the price, although they do not know what it will be. Some are inclined towards a considerable increase, “others are more cautious and foresee a moderate impact or even a neutral scenario”, taking into account factors such as market volatility or global economic uncertainty.
M.Pino
Source: beincrypto
(Reference image source: Jakub Żerdzicki in Unsplash)
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