One of the most anticipated events in the digital asset market officially took place today. In fact, the Bitcoin halving event has arrived, and the supply of Bitcoin in circulation is halved. The countdown is over, and the fourth halving event will take place on Friday, April 19.
Now, all eyes will be on how this development will impact the price of Bitcoin. Moreover, its prominent impact on the entire market should lead to this event having a significant impact on the entire industry. Only time will tell how significant its impact will be.
Bitcoin's fourth halving is coming
Every four years, the digital asset market faces one of the most important developments. It happened in 2012, then in 2016, and the third time in 2020. Each time its arrival caused a huge reaction in the cryptocurrency industry. Subsequently, this round will not be much different.
The moment that the financial world has been eagerly waiting for in the first months of 2024 has finally arrived. In fact, the Bitcoin halving event officially arrived on Friday, April 24. Now, investors will carefully observe the impact that this development may have on the market.
Both sides have opinions on what the upcoming halving means for the industry. Crypto.com CEO Kris Marszalek predicted that the situation after the halving will be disappointing. However, they also expect "outstanding performance in the next six months."
JPMorgan also made another worrying prediction. Specifically, the investment bank said it believes the halving is already largely priced into the asset. This is likely to be a common thought as the post-halving market begins to take shape.
The emergence of a newly approved spot Bitcoin ETF in the U.S. makes the situation even more interesting. For many who want to get the best returns from BTC in the long run, the reaction of investment products should be the focus of attention. In addition, Hong Kong recently approved a similar ETF, which has sparked global interest in how this major event will affect the asset value cycle next year.
