đ€
LIVEMastering Crypto
--
Countdown to Bitcoin Halving Event!
The clock is ticking towards Bitcoin's halving, scheduled to happen in the early hours of Saturday GMT, according to CoinGecko's timer. This periodic event, occurring approximately every four years, is encoded into Bitcoin's software to decrease the pace of new bitcoin creation.
Chris Gannatti, the Global Head of Research at WisdomTree, characterizes the halving as a significant event in the crypto world this year. It highlights Bitcoin's value as an increasingly rare asset, with its total supply limited to 21 million tokens by its anonymous creator, Satoshi Nakamoto.
The halving mechanism operates by cutting in half the rewards that cryptocurrency miners earn for generating new tokens, making it more expensive for them to introduce fresh bitcoins into circulation.
Following a surge in the price of $BTC to an all-time peak of $73,803.25 in March, there has been a retreat to $63,800. This impending halving coincides with enthusiasm around the approval of spot bitcoin exchange-traded funds by the U.S. Securities and Exchange Commission and expectations of central banks reducing interest rates.
While some crypto enthusiasts foresee price surges after halvings, analysts like those at JP Morgan express doubts, indicating that any price surge might already be accounted for. They even anticipate a potential drop post-halving due to excessive buying and subdued venture capital funding in the crypto sector.
Financial regulators advise that bitcoin is a high-risk asset with limited real-world utility, although more approvals for bitcoin-linked trading products are emerging. Crypto analyst Andrew O'Neill stresses that forecasting prices solely based on past halvings may not be dependable, as various factors influence Bitcoin's price trends.
Bitcoin's recent trajectory has been uncertain, influenced by geopolitical tensions and expectations of central banks maintaining higher interest rates, impacting global markets.
đ«Remember: Your Generous Tips Empower our Mission and help us to work even Harder for you to give Best Advice.
The clock is ticking towards Bitcoin's halving, scheduled to happen in the early hours of Saturday GMT, according to CoinGecko's timer. This periodic event, occurring approximately every four years, is encoded into Bitcoin's software to decrease the pace of new bitcoin creation.
Chris Gannatti, the Global Head of Research at WisdomTree, characterizes the halving as a significant event in the crypto world this year. It highlights Bitcoin's value as an increasingly rare asset, with its total supply limited to 21 million tokens by its anonymous creator, Satoshi Nakamoto.
The halving mechanism operates by cutting in half the rewards that cryptocurrency miners earn for generating new tokens, making it more expensive for them to introduce fresh bitcoins into circulation.
Following a surge in the price of $BTC to an all-time peak of $73,803.25 in March, there has been a retreat to $63,800. This impending halving coincides with enthusiasm around the approval of spot bitcoin exchange-traded funds by the U.S. Securities and Exchange Commission and expectations of central banks reducing interest rates.
While some crypto enthusiasts foresee price surges after halvings, analysts like those at JP Morgan express doubts, indicating that any price surge might already be accounted for. They even anticipate a potential drop post-halving due to excessive buying and subdued venture capital funding in the crypto sector.
Financial regulators advise that bitcoin is a high-risk asset with limited real-world utility, although more approvals for bitcoin-linked trading products are emerging. Crypto analyst Andrew O'Neill stresses that forecasting prices solely based on past halvings may not be dependable, as various factors influence Bitcoin's price trends.
Bitcoin's recent trajectory has been uncertain, influenced by geopolitical tensions and expectations of central banks maintaining higher interest rates, impacting global markets.
đ«Remember: Your Generous Tips Empower our Mission and help us to work even Harder for you to give Best Advice.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
Replies 0
