Bitcoin

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April

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitwise-ceo-highlights-potential-impact-of-upcoming-bitcoin-halving/" data-wpel-link="internal">Bitwise CEO Highlights Potential Impact of Upcoming Bitcoin Halving</a> 
The CEO of Bitwise, one of the major investment firms in the USA, Hunter Horsley, sparked a heated discussion in the cryptocurrency world with his latest statement regarding the <a href="https://en.coin-turk.com/whale-transactions-in-bitcoins-orbit-and-price-analysis/" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/son-dakika-sec-bu-sefer-gercekten-spot-bitcoin-etf-kararini-verdi" data-wpel-link="internal">BTC</a>) block reward halving planned for April 20. Horsley emphasized the significant potential impact of the upcoming halving on Bitcoin’s price by comparing it with the previous halving in 2020. He underlined that the new <a href="https://en.coin-turk.com/the-convergence-of-bitcoin-and-artificial-intelligence-an-inevitable-meteoric-rise/" data-wpel-link="internal">BTC</a> supply will drop by 50%, suggesting that this halving could surpass the effects of the previous ones in terms of magnitude and bullish impact. 
<h2 style="text-align: justify" id="strong-the-4th-bitcoin-block-reward-halving-could-differ-from-the-previous-ones-strong">The 4th Bitcoin Block Reward Halving Could Differ from the Previous Ones</h2> 
The high expectations surrounding the upcoming 4th Bitcoin block reward halving extend beyond its significant effects, with broader economic factors and market dynamics coming into play. Horsley pointed to a rate cut process reflecting similar monetary policies that had a notable effect on various markets, including cryptocurrencies, before the 2020 halving by the Fed. At that time, Bitcoin was trading around $9,000, while it is now trading at around $70,000, indicating that the price side could see a much larger surge this time. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-335207" src="https://coin-turk.com/wp-content/uploads/2024/03/Bitcoin-BTC-20-Nisan.jpeg" alt="" width="1280" height="720"> 
Horsley particularly highlighted the scale of the upcoming block reward halving with his comparison. When new BTC production decreases, all previous block reward halvings have created upward pressure on the price of the largest cryptocurrency, and a similar pressure is expected this time as well. 
Particularly in the USA, the interest in newly issued spot Bitcoin ETFs is expected to have a significant impact on the cryptocurrency market following the 4th block reward halving. In addition to various speculations in the market, concerns about the potential effect on Bitcoin’s mining hashrate after the halving have also emerged. A study by Hashrate Index suggests that a notable portion of Bitcoin’s hashrate, varying between 3% to 7%, could disconnect, especially if the price stabilizes or experiences moderate growth after the halving. 
This change in mining dynamics may require miners to make adjustments to increase efficiency and reduce operational risks amidst potential fluctuations in the price of the largest cryptocurrency. 
<h2 style="text-align: justify" id="strong-bitwise-submitted-s-1-form-for-spot-ethereum-etf-application-strong">Bitwise Submitted S-1 Form for Spot Ethereum ETF Application</h2> 
Amid these developments, Bitwise, a leading player in the cryptocurrency investment space, has taken significant steps to expand investment opportunities. The company recently submitted an S-1 form to the US Securities and Exchange Commission (SEC) for a spot <a href="https://en.coin-turk.com/celsius-makes-strategic-deposits-across-platforms-a-calculated-approach-to-ethereum-asset-management/" data-wpel-link="internal">Ethereum</a> exchange-traded fund (ETF), signaling its determination to overcome regulatory barriers and develop innovative investment solutions. 
This move underscores Bitwise’s commitment to enabling investors to directly invest in cryptocurrencies, following the success of spot Bitcoin ETFs that have achieved significant trading volumes after their launch. 
Bitwise’s initiative to introduce a spot Ethereum ETF is part of a broader trend to facilitate easier access for investors to various cryptocurrencies. Spot ETFs offer a more direct and transparent route to underlying assets compared to futures-based ETFs, aligning with Bitwise’s philosophy of offering innovative investment products tailored to the evolving needs of the market. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitwise-ceo-highlights-potential-impact-of-upcoming-bitcoin-halving/" data-wpel-link="internal">Bitwise CEO Highlights Potential Impact of Upcoming Bitcoin Halving</a></h5>

Bitwise CEO Highlights Potential Impact of Upcoming Bitcoin Halving

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