In the next three weeks or 21 days, the crypto world will witness an important event, namely the Bitcoin Halving. Right on April 19 or 20 (or maybe the day before), the halving will happen on the 840,000th block.
What Is Bitcoin Halving?
For those who are not familiar, halving is a reduction in rewards given to Bitcoin miners. This time, the miner reward will be reduced from 6.25 BTC to 3.125 BTC.
Bitcoin miners have been preparing for this halving event. Many of them have sold some of their holdings to upgrade mining equipment. Why is halving so important? Because history shows that after the halving, the price of Bitcoin tends to rise in the long run. Some even predict the price of Bitcoin to reach $200,000 by the end of 2025.
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Bitcoin Halving According to Observers
Well-known broker Canaccord Genuity recently released a report highlighting Bitcoin's price surge by 60% in the first quarter. The surge was mainly triggered by the launch of Bitcoin ETFs on exchanges, the anticipation of a halving, and increased risk appetite in financial markets.
Analysts, under the leadership of Michael Graham, believe that the halving will strengthen the momentum of Bitcoin ETFs. They are also optimistic that the SEC will approve 11 US spot Bitcoin ETFs this quarter. Retail investors are increasingly interested in putting crypto assets into tax-advantageous accounts, such as IRAs.
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Conclusion
On the other hand, questions were raised regarding the profitability of miners after the halving. Some exchange-traded Bitcoin miners don't always seem to follow Bitcoin price trends. Nonetheless, spot Bitcoin ETFs remain an attractive alternative for investors looking to get involved in the crypto market. If history repeats itself, we will probably see a bullish period for Bitcoin a few months after the halving event.
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How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.
Learn the Complete Guide on How to Buy Crypto on Bittime.
Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Bitcoin Halving: What Is It and When Did It Happen?
Bitcoin Halving: Understanding Its Mechanism and Importance
Bitcoin Halving 2024: Could Altcoin Prices Skyrocket?
DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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