Bitcoin

Rewards

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/grayscale-foresees-a-distinct-halving-effect-on-bitcoins-market-trajectory" rel="noopener noreferrer nofollow">Grayscale Foresees a Distinct Halving Effect on Bitcoin’s Market Trajectory</a><br></p>
<p style="text-align: justify">Grayscale, a premier cryptocurrency asset management firm, suggests the forthcoming <a href="https://en.bitcoinhaber.net/the-future-of-bitcoin-experts-predict-continuous-growth" rel="noopener noreferrer nofollow">Bitcoin</a> halving could chart a unique trajectory unlike past occurrences. The anticipated reduction in sell pressure, coupled with burgeoning applications for Bitcoin, hints at a probable uptick in price stability post-halving. This event, integral to Bitcoin’s design, slashes miner rewards by half, historically setting off substantial price rallies.</p>
<h2 id="bitcoin-s-growing-use-cases-strengthen-market-position">Bitcoin’s Growing Use Cases Strengthen Market Position</h2>
<p style="text-align: justify">Grayscale’s latest research indicates a surge in Bitcoin’s on-chain endeavors, with technologies like Ordinals breathing new life into Bitcoin’s utility. These developments bolster the case for spot Bitcoin ETFs, which stands to support elevated future valuations. Michael Zhao, a Grayscale researcher, notes that Bitcoin is evolving beyond its ‘digital gold’ status, signifying a transformation with profound market implications.</p>
<h2 id="halving-s-implications-beyond-reduced-miner-rewards">Halving’s Implications: Beyond Reduced Miner Rewards</h2>
<p style="text-align: justify">Although halving curtails miner revenue in the short term, the fundamental and market structures signal a positive shift. The forthcoming halving requires less purchasing pressure to maintain prices, potentially leading to an appreciation in value. Zhao elaborates on how the reduced block reward, from 6.25 to 3.25 BTC, cuts the annual sell pressure in half, thus alleviating the downward pressure on prices.</p>
<p style="text-align: justify">The Grayscale report also spotlights the transformative effect of Ordinals and BRC-20 tokens on Bitcoin’s transactional framework. This innovation has already infused over $200 million in transaction fees for miners and is projected to reinforce this trend, propelled by sustained developer interest and ongoing Bitcoin Blockchain enhancements.</p>
<p style="text-align: justify">Overall, the confluence of reduced selling pressure, enhanced on-chain functionality, and the innovation of new Bitcoin-based applications sets the stage for a potentially bullish future for Bitcoin following the next halving event.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/grayscale-foresees-a-distinct-halving-effect-on-bitcoins-market-trajectory" rel="noopener noreferrer nofollow">Grayscale Foresees a Distinct Halving Effect on Bitcoin’s Market Trajectory</a></h5>

Grayscale Foresees a Distinct Halving Effect on Bitcoin’s Market Trajectory

Table of Contents

BH NEWS

Other articles published on Feb 12, 2024

Solana News: How Previously Identified Bug Caused Network Outage

Profits from Ethereum & Bitcoin boost, but capital is shifting into Kelexo presale

GameFi Sector Soars with Increased Funding and Player Engagement

Are These Three Cryptocurrencies Poised for a 1000% Increase in Value This Year: Optimism (OP), M...

Bitcoin Clings to $48K as Market Anticipates US Economic Indicators

Tensor Dominates Solana NFT Market with 77% Share

Join our free newsletter for daily crypto updates!