Binance CEO: Bitcoin innovation wave during halving
In the digital asset space, the most important event is undoubtedly the Bitcoin halving in April this year.
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In the digital asset space, the most important event is undoubtedly the Bitcoin halving in April this year.
Bitcoin's upcoming halving, reducing issuance to 3.125 BTC per block, sparks trader interest. Historical trends show post-halving rallies, but current sentiment uncertain despite recent ATHs. Past halvings saw retracements followed by surges, but ETF introduction may disrupt traditional cycles. Market awaits potential future scenarios amidst countdown.
Historically, Bitcoin has fallen in the weeks leading up to the halving, and the trend is likely to be repeated over the next week.
Facing the end of a new halving cycle, what should we expect, and what new variables have emerged in the market?
The event will double the bitcoin production cost to around $40,000, creating a positive psychological effect, the report said.
The last Bitcoin halving took place on May 11, 2020, and the next bitcoin halving will likely occur in 2024.
Bitcoin’s hashrate is reaching all-time highs, and it’s causing confusion about “the halvening” on Twitter.
Traders still anticipate BTC prices above $100,000, but a closer look at the BTC halving cycle chart suggests that a sharper downside move will occur first.
The $50,000 resistance level seems to be the line in the sand that separates certainty from doubt that Bitcoin has cast off the four-year cycle trend, according to Santiment.
The Bitcoin hash rate hit another all-time high and the 105,000th block since the last halving was mined, marking the halfway to the next halving.