Bitcoin Halving Successfully Completed: What's Next for the Price?
The much-anticipated Bitcoin Halving event was finally completed on April 19 and April 20. It caused a scheduled reduction in the generation rate of new BTCs. The half-ling event, which takes place every four years, halves the mining rewards.
The adjustment was verified with data from analytics platforms such as mempool.space and Blockchain.com. During the Bitcoin Halving, the price remained relatively stable and hovered close to the $64,000 mark after the halving.
It seems that the Bitcoin halving event will not have an immediate impact on the price of BTC. However, strong support can be expected by the next 12 months and 2025.
The current optimism surrounding Bitcoin's short-term expectations could cause a pause in interest rate cuts from the Federal Reserve. In addition, the Middle East crisis, which coincides with the same period as Bitcoin Halving, will be a factor.
Bitcoin, including indicators suggesting increasing tensions, may face challenges due to broader macroeconomic factors. While the halving event is likely to have a greater impact on Bitcoin mining firms rather than directly affect the cryptocurrency's price, it is expected to significantly impact their revenues.
