In just a few hours, the Bitcoin halving will occur – an event highly anticipated by cryptocurrency fans. This reduction in mining rewards is significant and brings important fundamentals to the Bitcoin ecosystem. Recently, this topic has attracted notice from both web3 and traditional finance communities.
In the remaining few hours, experts in the industry, observers, and analysts have shared their forecasts, taking into account the current market tendencies. Regardless of the underlying fundamentals, the crypto community is elated about the upcoming event.
Bitcoin Halving Parties
In countries such as El Salvador, Thailand, and Switzerland, among others, the Bitcoin halving event is now imminent, with excitement building worldwide. In Thailand, for instance, a billboard displaying the live countdown to the halving has sparked some buzz in the digital asset market.
Bitcoin Halving countdown in Thailand
— MartyParty (@martypartymusic) April 18, 2024
In Switzerland, there would be a Bitcoin halving party at SHED in Zug hosted by Niklas Nikolajsen.
As the dinner draws to a close, SHED will be transformed into an exhilarating party scene. The air will be filled with energizing rhythms from renowned DJs, and the venue will be adorned in Bitcoin’s iconic imagery. Don’t miss your chance to be part of this historic occasion where the Bitcoin community gathers to rejoice in the future of finance.
At the forefront of the countdown to Bitcoin’s halving, El Salvador captured everyone’s interest with its groundbreaking announcement, attracting a large number of international attendees to its event. The reason for this buzz was due to El Salvador’s pro-Bitcoin stance.
During Bitcoin Week, the country welcomed both private and international events related to Bitcoin. The Meme Factory, a community of Bitcoin supporters, highlighted that this was the first Bitcoin halving celebration which attracted users from around the world.
“This is the initial gathering of its kind, bringing together individuals from every corner of the globe. We are thrilled to welcome attendees hailing from all continents on Earth, and it’s been an immense pleasure to host this global celebration in El Salvador.”
Impact of BTC Halving
Every four years, the Bitcoin reward for mining new blocks is cut in half, or reduced by 50%. Although this decrease in miner earnings may seem unfavorable, it could potentially lead to an increase in the asset’s price and initiate a new surge in the cryptocurrency market.
Bitcoins optimistic investors, or “bulls,” anticipate further price increases as miners start hoarding their bitcoins and transferring them from exchanges. Conversely, pessimistic traders, or “bear traders,” argue that the upcoming halving may not significantly impact prices due to ongoing macroeconomic concerns.
According to JP Morgan’s latest analysis, Bitcoin’s value may decrease following the halving event due to the cryptocurrency being considered overbought based on their assessment.
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2024-04-19 10:20