Bitcoin halving could give investors a green light :

On April 20, Bitcoin will see its expected halving. This once-in-four-years event cuts mining rewards in half, with the upcoming event reducing rewards to 3.125 BTC per block.

The timing of the halving is particularly intriguing because it unfolds amid a bullish trend in Bitcoin prices. The halving could have a significant impact on Bitcoin's trajectory over the next few years.

So is now the time to buy Bitcoin?

Bitcoin surged 67% in the first quarter of 2024, largely due to increased demand for Bitcoin exchange-traded funds (ETFs). The sharp price increase that has now been experienced has sparked discussions about the potential impact of Bitcoin's halving.

Daoge believes that Bitcoin remains undervalued and expects it could climb to $100,000 this year. The asset's outstanding performance so far, coupled with expectations of interest rate cuts from the Federal Reserve, makes this prediction reasonable.

“We may see a short-lived correction, but as central banks ease monetary policy, this should drive direct sales and ETFs in Bitcoin, as Bitcoin tends to behave like tech stocks or speculative assets, which typically rise on loose monetary policy. My estimate is that Bitcoin could reach $100,000 to $150,000 in 12 to 18 months after the halving.”

NYDIG researchers believe that the impact of Bitcoin halving on price may be negligible compared to the impact of ETF demand. Therefore, they do not expect the daily supply of about 450 BTC to put significant pressure on prices.

"While the halving event may not be an immediate price catalyst, historical data shows that it plays a vital role in shaping Bitcoin's price cycle. Typically, there is a preparation phase before the halving, followed by significant returns after the fact. Given the current positive price performance before the halving, investors have reason to be optimistic about Bitcoin's future potential.

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