Every four years, Bitcoin’s halving event occurs, reducing the reward for miners by half. This event is designed to control Bitcoin’s supply and maintain its value. The recent halving event differs from previous ones due to the launch of spot Bitcoin ETFs. However, the current macroeconomic environment, with elevated interest rates, may affect the impact of the halving event on Bitcoin’s price.
Get ready for the next exciting event in the Bitcoin ecosystem – the halving. Scheduled roughly every four years, the halving marks a significant reduction in the issuance of newly minted Bitcoins. This supply reduction is expected to have a bullish effect on the price, making it an important event for investors to watch. As the digital asset enters a new phase of its growth cycle, let’s explore the implications and potential opportunities the halving presents.
After the recent Bitcoin halving, the cryptocurrency market has experienced volatility, with numerous altcoins recording losses on Wednesday, April 24. Bitcoin dipped by 0.56% to trade at $65,693, while Ether declined by 1.79% to $3,037. Other affected currencies include Tether, Ripple, Dogecoin, Shiba Inu, Avalanche, Polkadot, Chainlink, Near Protocol, Cronos, Stellar, and Cosmos.
The Bitcoin (BTC-USD) halving event has passed, sparking renewed interest in blockchain technology and its potential to transform various industries. Savvy investors are exploring opportunities in companies leveraging blockchain technology to disrupt traditional business models. Here are seven blockchain stocks for investors to consider: Riot Platforms (RIOT), Nvidia (NVDA), Greenidge Generation (GREE), Coinbase (COIN), MicroStrategy (MSTR), Marathon Digital (MARA), and Bitdeer Technologies (BTDR). These companies offer competitive advantages, strategic growth plans, and potential for significant returns.
Following last Friday’s halving event, Bitcoin’s price has seen a significant increase, driven by increasing net inflows into Bitcoin spot ETFs. Data from Soso Value reveals that total net inflow on Monday, April 22, reached $62.0899 million, with notable contributions from Fidelity’s FBTC ($34.8334 million), Ark Investment’s ARKB ($22.56 million), and BlackRock’s IBIT ($19.65 million). Amidst these inflows, Grayscale’s GBTC recorded a net outflow of $34.993 million on the same day. The positive sentiment surrounding ETF inflows pushed Bitcoin’s price up 2.89% on Monday, surpassing resistance at $64,511 and reaching a daily high of $67,241. At the time of writing, Bitcoin trades around $66,429.
