Bitcoin is the most valuable cryptocurrency in the world. On April 19, after the fourth halving event, the mining reward was reduced. This important event takes place every four years to regulate the operations of Bitcoin’s platform.
Halving is designed to reduce the rate at which new Bitcoins are created, making them more scarce and potentially driving up prices in the future. However, experts have conflicting views on the true impact of this event on the Bitcoin price.
After the 2024 halving, the price of Bitcoin remained relatively stable, only slightly decreasing by 0.47% to 63,747 USD. This indicates that the market is reacting cautiously to this event.
Chris Summer, Global Research Director at WisdomTree, an asset management company that specializes in Bitcoin ETFs, believes that the halving is “one of the biggest events in the crypto market this year.” He thinks that this event will make Bitcoin more scarce and likely push prices up in the future. However, he also warned that the cryptocurrency market is always highly volatile and there is no guarantee that Bitcoin price will increase after halving.
Some analysts believe that this event will have a positive impact on Bitcoin price. They pointed out that during previous halvings, Bitcoin prices tended to increase. For example, after the halving of 2012, the price of Bitcoin increased from 13 USD to 1,000 USD within 1 year. By 2016, the price of this currency increased from 430 USD to 19,783 USD within 2 years.
On the other hand, some analysts argue that the halving does not have a significant effect on the value of Bitcoin, as intrinsic value depends on various factors such as market sentiment, investment demand, and the development of blockchain technology.
