Summary
The fourth Bitcoin halving was in mid-April amid expectations of a rally for the cryptocurrency. Halving is a scheduled reduction in the amount of new coins entering the market and is intended to protect the cryptocurrency’s value by ensuring its circulation is capped at 21 million. Halving occurs every four years for Bitcoin, and this time it reduced the supply of new coins awarded to miners by half (to 3.125 tokens). Some reasoned the lower supply would lead to a run up in Bitcoin’s price (as that was the case after each of the previous halvings). So far, though, this halving has been different. Since the April 19 halving date, the price of Bitcoin has fallen about 2%. Why? The SEC’s approval of the first U.S.-listed Bitcoin ETFs likely played a role. The spot Bitcoin ETFs have been welcomed by investors who have collectively poured nearly $60 billion into them since January. The related increase in demand drove the price of Bitcoin up over 50% by mid-March, only to drop by about 15% since then despite the halving. The unexpected results remind us that investing in crypto comes with risk and the underly
Upgrade to begin using premium research reports and get so much more.
Exclusive reports, detailed company profiles, and best-in-class trade insights to take your portfolio to the next level
EMEA Tribune is not involved in this news article, it is taken from our partners and or from the News Agencies. Copyright and Credit go to the News Agencies, email news@emeatribune.com Follow our WhatsApp verified Channel
