Bitcoin's halving event, scheduled for this weekend, is expected to reduce the number of available bitcoins in circulation, thereby controlling inflation within the cryptocurrency. Experts believe the halving could potentially drive Bitcoin's price to between $150,000 and $200,000 in the long term, based on historical price movements following previous halving events.
Bitcoin Halving Event Anticipated This Weekend, Expected to Impact Cryptocurrency's Availability
The highly anticipated Bitcoin (BTC-USD) halving event is scheduled to occur over the upcoming weekend, either on Friday, April 19th, or Saturday, April 20th. This significant event is designed to reduce the number of bitcoins in circulation every four years, effectively controlling inflation within the cryptocurrency.
The halving event has garnered considerable attention from both cryptocurrency enthusiasts and financial experts alike. CoinFund Co-Founder and CIO Alex Felix and BitGo Managing Director and Head of the Go Network Matt Ballensweig joined the Market Domination show to provide their insights on the potential long-term price trajectory of Bitcoin following the halving.
Ballensweig expressed a conservative view, describing the halving as a "non-event" in the short-term perspective. He advised traders to adhere to fundamental trading principles when managing crypto-adjacent stocks, such as Bitcoin miners. Felix, on the other hand, projected a more optimistic outlook, suggesting that Bitcoin could potentially reach a value between $150,000 and $200,000 over the next two years, based on historical price patterns following previous halving events.
For a concise explanation of the Bitcoin halving process, interested individuals are encouraged to refer to the following video from Yahoo Finance: Bitcoin halving: Explained
To access additional expert insights and stay abreast of the latest market developments, viewers are invited to watch the full episode of Market Domination by clicking here.
This news piece was meticulously crafted by Luke Carberry Mogan.
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