We are just a short time away from an event that will make waves in the cryptocurrency universe – the halving of bitcoin
There is only a short time left until the event that will make waves in the cryptocurrency universe – the halving of bitcoin. What does that mean? Simply put, from a certain date, the reward for bitcoin miners for their work will be halved. It’s a sort of ritual that takes place every four years and the expectations around it are huge.
It is expected to happen on April 20, and everyone is curious to see what it will bring. History teaches us that previous halvings have led to price increases. But this time could be different. In fact, in my opinion, the expectations have already been partially reflected in the current bitcoin price.
In the first halving, the price rose from $11 to $1,100, which was staggering. The second halving brought a slower but still significant rise – from $600 to $20,000. And what about the third halving in 2020? That raised the price from about $9,000 to $30,000. And now? Bitcoin is worth around $68,000, just below its recent high in 2021.
In recent weeks, the price climbed to $74,000, but then came profit-taking and price drops. But there is unlikely to be a big drop until halving. On the contrary, I expect the price to start slowly rising towards $80,000 and maybe even break the $100,000 mark in the first half of this year.
One of the factors supporting bitcoin’s growth is the launch of the first ETFs and the huge interest in them. This has also encouraged ethereum, which has followed bitcoin in its growth. But recently the price of ethereum has dropped slightly to $3,600. Still, it has risen more than 130 percent in the last year.
In March, gold also reached a record price, reaching $2,200 per troy ounce and hovering around that value. That’s up 13 percent from a year ago. The price of gold is expected to continue to rise, mainly due to possible interest rate cuts in the US and increasing demand for safe-haven investments.
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