Bitcoin

Percent

The upcoming Bitcoin halving could potentially be a “buy the rumor, sell the news” event, according to Rikke Staer, CEO of cryptocurrency payments solution provider Coinify.
Staer suggested that more sophisticated market participants and institutional investors this market cycle could lead to a 'buy the rumor, sell the news' case for the upcoming Bitcoin halving.
The halving event, which cuts mining rewards in half, could make less efficient mining operations unprofitable. “These miners may be forced to sell their existing Bitcoin holdings to cover electricity costs, equipment maintenance, and other operational expenses,” Staer said.
Related News: <a href="https://en.bitcoinsistemi.com/shocking-statement-from-the-founder-of-altcoin-which-soared-up-to-300-percent-today-im-suspending/" target="_blank" rel="noopener noreferrer nofollow">Shocking Statement from the Founder of Altcoin, Which Soared Up to 300 Percent Today: "I'm Suspending"</a>
The Coinify CEO also warned that a sudden influx of Bitcoin from miners selling to stay afloat could suppress existing buy orders and drive the price down. “This could create a negative feedback loop where lower prices force more miners to sell, driving the price even lower,” he said.
Staer also noted that Bitcoin's price response to the upcoming halving could take several months, and the dramatic percentage gains observed in the past may be difficult to repeat. “The price response is typically not sudden; historically speaking, major post-halving growth occurs over 6-18 months, with larger price movements becoming statistically less likely with increasing market size,” he said.
He added that the dramatic percentage gains observed in previous halvings may be difficult to repeat due to the size of the current Bitcoin market.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/how-will-btc-price-react-to-bitcoin-halving-on-saturday-here-is-the-comment/" rel="noopener noreferrer nofollow">How Will BTC Price React to Bitcoin Halving on Saturday? Here is the Comment</a>

How Will BTC Price React to Bitcoin Halving on Saturday? Here is the Comment

Bitcoin Sistemi EN

Weitere Artikel, die am 17. Apr. 2024 veröffentlicht wurden

8 AI-Based Altcoins To Sell As Investors Rebalance Portfolios For 100X Potential

Austin Hilton Reviews The Newest Multi-Chain Meme Coin – Dogeverse

Ore Creator Proposes Incentives to Alleviate Solana Congestion

Key Insights on Bitcoin Market Trends and Investment Mistakes

Major Withdrawals Follow Parcl’s Airdrop on Solana Platform

AI-Powered Smart Devices: Convenience at the Cost of Security

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!