BlocksInform
On April 20, Bitcoin will undergo its anticipated halving This four-yearly occurrence slashes mining rewards by half, with the upcoming one reducing rewards to 3.125 BTC per block
The timing of the halving is particularly intriguing as it unfolds amidst a bullish trend in Bitcoin’s price. Analysts anticipate this halving could substantially influence Bitcoin’s trajectory in the coming years.
Is Now the Best Time To Buy Bitcoin?
surged by 67% in the initial quarter of 2024, driven predominantly by heightened demand for Bitcoin exchange-traded funds (ETFs). The substantial price growth already experienced now prompts discussions regarding the potential impact of Bitcoin halving
Some analysts argue that Bitcoin remains undervalued, foreseeing a potential climb to $100,000 within the year. The remarkable performance of the asset thus far, coupled with anticipated rate cuts from the Federal Reserve, renders this projection plausible.
“We could see a brief correction, but as central banks ease up on monetary policy, that should drive both direct Bitcoin sales and ETFs because Bitcoin tends to behave like a tech stock or speculative asset, which generally see gains around easing of monetary policy. My estimate is that Bitcoin could reach anywhere from $100,000 to $150,000 in 12 to 18 months post-halving,” Jason Fernandes, co-founder at AdLunam told BeInCrypto.
Conversely, other experts suggest that the market has already factored in the halving. Yet, with Bitcoin’s supply poised to decrease and Bitcoin ETF-driven demand steadily rising, some view the current juncture as opportune for Bitcoin investment.
However, insights from IntoTheBlock indicate that miners’ revenue, measured in USD, is presently at a peak, propelled by Bitcoin’s rising value. If the halving precipitates further value appreciation, the diminished rewards may have negligible repercussions on miners.
