2024

Bitcoin

April

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As the <a href="https://u.today/this-might-be-setup-for-bitcoin-price-as-community-awaits-key-inflation-decisions" rel="noopener noreferrer nofollow">Bitcoin community</a> celebrated the completion of another halving event, renowned Bitcoin critic Peter Schiff took to the stage with a warning for BTC holders.
The highly anticipated Bitcoin software update called "halving" has been completed. The modification went into effect as of 8:10 p.m. Friday, New York time, according to data from analytics websites mempool.space and Blockchain.com.
This event, which reduces the reward for mining new blocks by half, is seen by many as a bullish signal for the cryptocurrency's value. However, Schiff's perspective offers a sobering counterpoint to the prevailing optimism.
<a href="https://u.today/peter-schiff-sends-warning-to-bitcoin-investors-details" rel="noopener noreferrer nofollow">Peter Schiff</a>, a long-time skeptic of Bitcoin and advocate for gold, warns that the halving may not necessarily lead to the much-expected price increase. He believes that the halving event may ultimately fail to deliver expected gains, resulting in Bitcoin hodlers experiencing a "halving" of their net value, implying a price fall.
<blockquote>
 Congratulations Bitcoiners on the <a href="https://twitter.com/hashtag/Halving?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Halving</a>. Are you guys commemorating this occasion by throwing parties tonight? I haven't been invited to any. I think halving is an appropriate name for what's happening as soon <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://twitter.com/hashtag/HODLers?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#HODLers</a> will experience a halving of their net worths.— Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1781476742156243304?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 20, 2024</a>
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"Congratulations, Bitcoiners, on the Halving. Are you guys commemorating this occasion by throwing parties tonight? I haven't been invited to any. I think halving is an appropriate name for what's happening as soon Bitcoin hodlers experience a halving of their net worths," <a href="https://twitter.com/PeterSchiff/status/1781476742156243304" rel="noopener noreferrer nofollow">Schiff</a> wrote in a tweet.
<h2 id="bitcoin-s-performance-after-halving-remains-under-debate">Bitcoin's performance after halving remains under debate</h2>
As <a href="https://u.today/bitcoin-btc-price-crash-near-60000-this-might-be-real-cause" rel="noopener noreferrer nofollow">Bitcoin</a> enters a new chapter following the completion of its latest halving event, the debate over its future trajectory rages on.
Before the halving event, on-chain analytics firm <a href="https://twitter.com/intotheblock/status/1781239541740838954" rel="noopener noreferrer nofollow">IntoTheBlock</a> highlighted the trend of BTC price performance following each Bitcoin halving, noting that a bullish trend often emerges and lasts about a year.
Also, miners' BTC holdings reached a 12-year low, implying that miners had been net sellers before the halving.
Meanwhile, <a href="https://u.today/veteran-bitcoin-whales-on-chain-antics-spark-intrigue-whos-gaining" rel="noopener noreferrer nofollow">Bitcoin whales</a> may have finally begun buying the dip. On April 18, the top Bitcoin holders, who own more than 0.1% of the total supply, added 19,760 Bitcoins to their holdings at an average price of $62,500. Historically, accumulations by these addresses have frequently foreshadowed increases in Bitcoin's price.
At the time of writing, Bitcoin was trading down 2.17% in the last 24 hours to $63,738 as investors took profits following the halving event.

Bitcoin Critic Peter Schiff Issues Warning to BTC Holders as Halving Completes

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