Bitcoin rebounded strongly to the $70,000 mark, and the halving feast is about to begin
On the ever-changing stage of the currency circle, Bitcoin has always played a pivotal role. Recently, the price of Bitcoin has rebounded strongly to above $70,000, which has attracted widespread market attention. At the same time, a high-profile halving event is about to take place, making many investors and analysts full of expectations.
First, let’s understand what Bitcoin halving is. Simply put, halving is the halving event of block rewards in the Bitcoin network. This halving is expected to occur on April 20, when miners’ rewards will be reduced from 6.25 Bitcoins to 3.125 Bitcoins. This move will reduce Bitcoin’s annual inflation rate from 1.7% to 0.85%, further reducing the supply of Bitcoin.
Judging from historical experience, although Bitcoin halving events are often accompanied by short-term market fluctuations, in the long term, prices tend to show an upward trend. Looking back at the past halving history, we can find that after the halving events in 2016 and 2020, the price of Bitcoin rose significantly. Although there was a short-term correction afterwards, they eventually broke through within a few months. reached its previous all-time high.
Of course, this halving event is no exception. While the market may experience short-term volatility, the reduction in supply is expected to have a positive impact on prices in the long term. However, it is worth noting that the trend of gradually decreasing price increases after each halving is also worthy of our attention. This means that the increase in Bitcoin price may gradually decrease in the future, but the overall trend remains bullish.
In addition to the halving event, the launch of Bitcoin ETF has also brought new impetus to the market. With the approval of Bitcoin ETF, institutional investors have poured into the market, and a large amount of funds have flowed into the Bitcoin field. The participation of institutional funds not only increases the liquidity of the market, but also increases the recognition of Bitcoin. Coupled with continued demand for ETFs and reduced supply, Bitcoin’s value is expected to be pushed even higher.
Simply understood: Bitcoin halving means that the supply is reduced, and the launch of ETF attracts more investors to pay attention and invest in Bitcoin. These two factors working together are expected to drive Bitcoin prices further upwards.
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