From Investing.com: 2024-04-16 01:06:07

Cryptocurrency traders are watching closely as bitcoin approaches its ‘halving,’ where the rate of new bitcoins created will be reduced. Previous halvings led to massive price rallies, with predictions of a 160% surge to $150,000 after the upcoming event on April 20. However, skeptics warn that the impact may already be priced into bitcoin’s recent surge.

The CEO of LMAX Group is skeptical about the halving’s impact, suggesting that historical precedent may not be reliable. The recent rally in bitcoin could be due to a combination of factors like looser monetary policy and retail investors buying cryptocurrencies. Despite uncertainty, the entry of new institutional money and potential Fed rate cuts could support bitcoin’s price post-halving.

Read more at Investing.com: Hold for the halving By Reuters