https://sputnikglobe.com/20230424/bitcoin-may-hit-50000-next-year-thanks-to-halving--analysts-1109789128.html
Bitcoin May Hit $50,000 Next Year Thanks to Halving – Analysts
Bitcoin May Hit $50,000 Next Year Thanks to Halving – Analysts
Sputnik International
Halving is a technical procedure that cuts in a half the amount of tokens received by miners. It occurs once in four years and each time Bitcoin price hit record high as a result. The next one is expected on April 2024 and analysts allege that digital asset will skyrocket.
2023-04-24T11:30+0000
2023-04-24T11:30+0000
2023-07-31T17:13+0000
economy
bitcoin
ftx
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Bitcoin stands on the brink of a price rally that may take it past $50,000 in 2024 due to the process of halving, analyists have predicted.Halving cuts two-fold the amount of tokens miners receive. Economically speaking, the supply of this digital currency will be diminished and its price will go up as a result. Halving happens every four years and the next one is scheduled on April 2024.The crypto asset regained 67% of its value after its 2022 downfall and currently is traded below $30,000. However, halving may trigger dramatic growth, according to analysts. Markus Thielen, research head at Matrixport, told US media that Bitcoin will be priced over $65,000 by April 2024. Another crypto analyst Jamie Douglas Coutts reportedly predicts that the digital asset will cost around $50,000 almost immediately after halving.It comes after difficulties last year, with 2022 being a hard time for Bitcoin investors due to a regulatory crackdown on the crypto industry after the epic FTX collapse in November 2022 and global economic turmoil. Halving is a technical procedure aimed at constraining inflation in the crypto industry. Tech entrepreneur and creator of Ethereum Vitalik Buterin draws a metaphor with gold: “The world reserves of gold are limited and with each new ounce this metal becomes harder to mine. As a result of this limited supply, gold retained its role of medium of exchange and of store of value for more than six thousand years."
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Bitcoin May Hit $50,000 Next Year Thanks to Halving – Analysts
11:30 GMT 24.04.2023 (Updated: 17:13 GMT 31.07.2023) Last year was an uneasy period for Bitcoin, with prices remaining 60% down from the all-time high of almost $69,000 in November 2021. The crypto industry dipped last year due to the collapse of a bunch of digital-asset companies and global economic turmoil exacerbated by inconsistent monetary policy.
Bitcoin stands on the brink of a price rally that may take it past $50,000 in 2024 due to the process of halving, analyists have predicted.
Halving cuts two-fold the amount of tokens miners receive. Economically speaking, the supply of this digital currency will be diminished and its price will go up as a result. Halving happens every four years and the next one is scheduled on April 2024.
The crypto asset regained 67% of its value after its 2022 downfall and currently is traded below $30,000. However, halving may trigger dramatic growth, according to analysts. Markus Thielen, research head at Matrixport, told US media that Bitcoin will be priced over $65,000 by April 2024. Another crypto analyst Jamie Douglas Coutts reportedly predicts that the digital asset will cost around $50,000 almost immediately after halving.
It comes after difficulties last year, with
2022 being a hard time for Bitcoin investors due to a regulatory crackdown on the crypto industry after the epic FTX collapse in November 2022 and global economic turmoil.
15 December 2022, 13:55 GMT
Halving is a technical procedure aimed at constraining inflation in the crypto industry. Tech entrepreneur and creator of Ethereum Vitalik Buterin draws a metaphor with gold: “The world reserves of gold are limited and with each new ounce this metal becomes harder to mine. As a result of this limited supply, gold retained its role of medium of exchange and of store of value for more than six thousand years."
