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\u200bThe Bitcoin halving \u2013 likely on Friday or Saturday \u2013 will be a \u2018price non-event\u2019, depending on the exact current rate at which the cryptos are created, according to the CEO of a leading independent financial advisory and fintech.<\/p>\n
Bitcoin halving is a programmed event that occurs about every four years, reducing the reward miners receive for validating transactions by half. This mechanism ensures scarcity and controls inflation in the Bitcoin network.<\/p>\n
With each halving, the rate of new supply entering the market decreases, making Bitcoin increasingly scarce over time.<\/p>\n
\u201cDespite it being one of the biggest moments in crypto, the halving is likely not to move the needle too much in terms of values,\u201d said Nigel Green of deVere Group. \u201cIndeed, it\u2019s likely to be a major price non-event.<\/p>\n
He said that investors, traders and speculators priced-in the halving months ago.<\/p>\n
\u201cAs a result, a significant portion of the positive economic impact was experienced previously, driving up prices to fresh all-time highs last month.\u201d<\/p>\n
Bitcoin reached a new all-time high price of $75,830 on March 14.<\/p>\n
Green explained that the effects of the halving are not confined to the day it happens.<\/p>\n
\u201cInstead, they unfold gradually over time, influencing market dynamics \u2013 and, as history teaches us, driving the price upwards \u2013 in the months and years following the event.<\/p>\n
\u201cThe reduction in the rate of new supply leads to a more pronounced scarcity, reinforcing Bitcoin\u2019s status as a store of value asset.<\/p>\n
\u201cThis long-term narrative often plays a more significant role in shaping investor sentiment and price trends than the immediate impact of the halving itself.\u201d<\/p>\n
Following the first halving in November 2012, Bitcoin\u2019s price jumped around 9,500% to a peak of $1,160 over 367 days.<\/p>\n
The 2016 halving saw the price jump by 3,040% over 562 days to $19,660, and the 2020 halving saw it surge by 802% to a top of $73,800 over 1,403 days.<\/p>\n
The deVere CEO noted that there might even be \u201ca temporary sell-off as investors employ a \u2018sell the news\u2019 strategy.\u201d<\/p>\n
Those who follow this strategy take advantage of this anticipation by buying the crypto asset before the news is released, hoping to capitalise on the price increase leading up to the event. However, once the news is officially announced or released, there can be a sell-off as investors who bought in earlier start to take profits. This can cause the price to decline.<\/p>\n
Green concluded that, \u201cthe Bitcoin halving is a landmark moment, but the actual event will likely be a \u2018flop\u2019 for prices on the day.<\/p>\n
\u201cThe huge significance lies in the positive impact it will have in the longer term on the price of the world\u2019s biggest digital asset.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Bitcoin halving is expected to occur soon, reducing the reward miners receive for validating transactions by half. This event is not likely to have a significant immediate impact on Bitcoin prices, as investors have already priced it in. The effects of the halving are expected to unfold gradually over time, driving the price upwards in the months and years following the event.<\/p>\n","protected":false},"author":4,"featured_media":8859,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[4817,77,7121,80,2190,82,259,2403,6117,84,6216,658,1823,67,187,3404,34,3331,86,4509,5838,7122,1033,7123,1565,618,380,261,6305,18],"class_list":["post-8858","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-anticipation","tag-bitcoin","tag-bitcoin-halving","tag-crypto","tag-decline","tag-devere","tag-digital-asset","tag-driving","tag-event","tag-fintech","tag-halving","tag-history","tag-increase","tag-inflation","tag-international","tag-investors","tag-markets","tag-news","tag-nigel-green","tag-positive-impact","tag-price","tag-price-non-event","tag-prices","tag-scarcity","tag-surge","tag-top","tag-us","tag-usdbtc","tag-who","tag-world"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"\n