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Bitcoin’s upcoming halving may trigger short-term selling, but Crypto.com CEO Kris Marszalek remains optimistic about its long-term impact on the market.
<a href="https://crypto.news/tag/crypto.com/" target="_blank" rel="noopener noreferrer nofollow">Crypto.com</a> CEO Kris Marszalek anticipates that the upcoming <a href="https://crypto.news/tag/bitcoin-halving/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin halving</a> event may lead to short-term selling volatility, yet maintains optimism regarding its long-term implications, considering historical patterns in BTC price movements following similar network updates.
In an <a href="https://www.bloomberg.com/news/articles/2024-04-16/bitcoin-btc-sales-may-pick-up-around-halving-crypto-com-ceo-says" target="_blank" rel="noopener noreferrer nofollow">interview</a> with Bloomberg, Kris Marszalek highlighted the historical trend of price increases following halving events but acknowledged uncertainty due to Bitcoin’s recent record highs. In March, Bitcoin’s price set a new all-time high, soaring to $73,750 (CoinMarketCap data), which was the first time when BTC updated its record high prior to the halving event.
Even though short-term selling is not ruled out as the fourth halving nears, the Crypto.com CEO believes it will have a “positive development for the market” in the long run, saying he expects “pretty decent action within the six months following the Bitcoin halving.”
You might also like: <a href="https://crypto.news/bitcoin-halving-price-history/" rel="noopener noreferrer nofollow"> CoinGecko: Bitcoin rose by 3,230% on average after each halving </a>
As of press time, Bitcoin is trading at $63,132, representing a 14% decrease from its March highs. The fourth halving — which is due to Apr. 20 — will reduce the daily supply of Bitcoin miners’ rewards by half: from 6.25 BTC to 3.125 BTC, impacting mining profitability.
As crypto.news noted earlier, various crypto industry figures hold differing views on the halving’s effects. Tezos co-founder Arthur Breitman <a href="https://crypto.news/demand-appears-to-have-outpaced-issuance-as-bitcoin-halving-nears/" target="_blank" rel="noopener noreferrer nofollow">views</a> it as a “reduction in security budget,” suggesting potential benefits in addressing overpayment for security. However, Arthur Hayes, former head of BitMEX, <a href="https://crypto.news/arthur-hayes-bitcoin-price-down-halving/" target="_blank" rel="noopener noreferrer nofollow">anticipates</a> BTC price declines due to limited dollar liquidity during the period. Marathon CEO Fred Thiel <a href="https://crypto.news/marathon-ceo-expects-no-explosive-surge-for-bitcoin-halving-priced-in/" target="_blank" rel="noopener noreferrer nofollow">suggests</a> that the halving’s impact may already be priced in, citing successful spot exchange-traded fund (ETF) approvals.
Read more: <a href="https://crypto.news/crypto-bear-market-bitcoin-halving/" rel="noopener noreferrer nofollow"> Crypto expert explores bear market possibility as Bitcoin halving draws near </a>

Crypto.com CEO anticipates Bitcoin selling prior to halving

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