Let’s see what halving does, as almost all said, BTC will fall with a promise significantly, I've rated halving with smart money contractions.
It’s interesting to see a bullish whales contraction above 63k.
1. Bullish contraction has a promise to push price up, because it’s the plot whales planned
2. Others said: Halving promises to push price down
I can’t wait to see the outcome.
News update:
an approximate estimate can be made based on the average amount of time it usually takes to mine one block. Currently, it takes an average of 10 minutes to mine one Bitcoin block, with 834,327 blocks already having been mined as of 17 April.
A Bitfinex report released on 15 April suggests that investors could be buying up more bitcoin now in anticipation of the cryptocurrency's value surging in the next few months.
FOREXX_Mindset: I understand, but halving is to push down prices and 834,327 blocks already having been mined as of 17 April.
WHAT THE HEY!
News update:
analysts expect Bitcoin price movements to be slightly different following the upcoming halving, due to Bitcoin already having seen considerable surges, and even new record highs before the halving itself. As such, the entire price cycle that usually surrounds this event seems to have gotten a lot more compressed.
Brett Hillis, Partner at Reed Smith, said in an email note: "This cycle's halving is unique. Historically, the halving has driven a significant price increase, but this time around, Bitcoin is already not far from record levels.
"It's difficult to say whether this could limit how high the price could rise, but we could well be in store for some price volatility. In such circumstances, we could see a significant growth in disputes within the crypto ecosystem.
"The SEC's approval of spot Bitcoin ETFs provided the market with a shot in the arm back in January, and the recent ETF approval in Hong Kong has pushed up values even further. The regulatory approvals for investment products based on Bitcoin enable regulated retail investment in the asset class, which can cushion the volatility we tend to witness.
"Whilst the US and Hong Kong ETF approvals enable regulated retail investment in the asset class using that structure, the EU markets have had to take a different path. EU firms are restricted by the UCITS regime, which limits investment in ETFs to various traditional investment types, meaning a Bitcoin ETF is not possible under the current regulatory regime.
News Update:
Why prices may not surge this time
Another key reason why this Bitcoin halving may not prompt quite as large a price surge as the last halving in 2020, is due to the US Federal Reserve having a considerably relaxed monetary policy back then. This meant that interest rates at the time were relatively low.
This cycle's halving is unique. Historically, the halving has driven a significant price increase, but this time around, Bitcoin is already not far from record levels.
Brett Hillis
Partner, Reed Smith
However, in the past several months, that has changed considerably, with the US Federal Reserve having raised interest rates in order to combat sticky-high inflation. Higher interest rates have led to greater interest in things such as US Treasuries and other interest-paying assets and investments.
In turn, this has also led to people stepping back from riskier assets such as Bitcoin and other cryptocurrencies. Although there have been increasing hints about the US Fed cutting rates sometime in the coming few months, it is still uncertain as to when exactly this may be.
Thus, investors may still be cautious to invest quite as much in Bitcoin before rates are cut. Another major factor for this hesitancy is that cost of living is still soaring in several parts of the world, leaving a number of investors struggling to afford basic necessities and mortgages, significantly eroding away disposable income.