Bone

Bitcoin

April

when

Bitcoin (BTC) has seen a significant 36% price increase since the approval of spot Bitcoin ETFs on January 10. As of Thursday, Bitcoin price was hovering around $62,189.
However, according to some analysts, the halving that will take place next April may take this rise even further.
Halving is an automatic process that occurs when 210,000 blocks are created as part of the Bitcoin mining process. This event, which occurs approximately every four years, reduces coin production by halving the reward for mining new Bitcoin. The last halving event occurred in 2020, and the next one is expected to occur in April.
The purpose of halving is to reduce the coin supply as it approaches its total supply, which is capped at 21 million coins. This built-in mechanism mimics the rarity of gold and allows Bitcoin mining to become more expensive over time.
Related News: <a href="https://en.bitcoinsistemi.com/grayscale-pushes-sec-for-next-wave-of-bitcoin-spot-etfs-here-are-the-details/" target="_blank" rel="noopener noreferrer nofollow">Grayscale Pushes SEC for Next Wave of Bitcoin Spot ETFs: Here Are The Details</a>
“The expectation is that the halving will lead to an increase in prices because people expect supply to be constrained,” says Douglas Boneparth, president of Bone Fide Wealth and a member of CNBC's Financial Advisory Council.
“When supply decreases, the price increases, assuming demand remains the same or higher,” adds Boneparth.
Boneparth said the halving event may already be priced in, but with the launch of Bitcoin spot ETFs, institutions may need to purchase more BTC on the open market to support the inflow to their funds.
Currently, the halving event is expected to take place on April 24, 2024 at 10:41 Türkiye time.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/when-will-bitcoin-halving-happen-how-will-the-price-be-affected-analyst-responds/" rel="noopener noreferrer nofollow">When Will Bitcoin Halving Happen? How Will the Price Be Affected? Analyst Responds</a>

When Will Bitcoin Halving Happen? How Will the Price Be Affected? Analyst Responds

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