Bitcoin 'halving' expected in third week of April: Report
Bitcoin is expected to undergo ‘halving’ around April 20, termed as one of the most hotly anticipated events in the cryptocurrency circuits that has pushed the digit asset’s price recently, according to Bloomberg.
The world’s largest cryptocurrency was trading at $67,317.7 on April 5, recording a decline of 1.76%. The digital asset has gained around 50 percent this year despite going down from its record high of $73,798 achieved on March 14.
It is believed that this year's surge is because of the US Securities and Exchange Commission's January approval of bitcoin ETFs, as well as expectations that the US Federal Reserve will cut interest rates.
However, a price comparison between Bitcoin and its closest rival Ether shows a different story, reflecting sentiments of investors not favouring smaller cryptocurrencies ahead of Bitcoin halving. The ratio of price between the two reached 20, highest since April 2021.
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