The post Famous Analytics Company Announces Expectations for the Bitcoin Halving Event in April: Will ATH Come? appeared on BitcoinEthereumNews.com.

Cryptocurrency analysis company IntoTheBlock recently shared its expectations for the Bitcoin halving event that will take place in April. According to the analytics company, the last Bitcoin halving took place in 2020, which led to several significant changes: Block reward decreased from 12.5 BTC to 6.25 BTC. Bitcoin’s hash rate dropped by 30% in the two weeks following the halving. Miner difficulty was automatically reduced shortly thereafter, and an all-time high in hash rate was reached just seven weeks after the halving. Bitcoin price reached an all-time high in the eight months following the halving. IntoTheBlock expects the upcoming halving event to have the following effects: Rewards given to miners per block will be halved from 6.25 BTC to 3,125 BTC, and Bitcoin’s inflation rate will be reduced from 1.7% to 0.85% annually. A drop in Bitcoin’s hash rate is expected shortly after the halving. A decrease in issuance could lead to less Bitcoin being sold by miners. While the direct impact of lower issuance is small, historically, miners’ volume share decreases after halving, which can significantly reduce the market impact of miners’ selling. Given current momentum, expected Fed rate cuts, and strong institutional interest in Bitcoin, IntoTheBlock gives Bitcoin an 85% chance of reaching all-time highs within the next six months. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/famous-analytics-company-announces-expectations-for-the-bitcoin-halving-event-in-april-will-ath-come/

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Filed under: News - @ February 17, 2024 9:18 pm