Bitcoin Halving May See Rise In King Crypto Sales, Forecasts Crypto.Com CEO, But 'Decent Action' Anticipated Within Next Six Months
Portfolio Pulse from Benzinga Neuro
Crypto.com CEO Kris Marszalek predicts a surge in Bitcoin sales leading up to the 'halving' event around Apr. 20, expected to boost Bitcoin's price over time. Despite potential short-term selling pressure, Marszalek views the event as positive for the market. The introduction of Bitcoin ETFs and endorsements like that from BlackRock Inc have fueled optimism, despite recent price volatility and skepticism among finance professionals. Bitcoin's price has seen a significant year-to-date increase, trading at $62,682 with a recent decline of 1.23%.
April 16, 2024 | 6:12 am
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Bitcoin is expected to see a surge in sales leading up to the 'halving' event, with potential short-term selling pressure but overall positive market impact anticipated.
The 'halving' event traditionally reduces Bitcoin's new supply, historically boosting its price. Despite potential short-term selling, the overall sentiment remains bullish, supported by the introduction of Bitcoin ETFs and endorsements from major financial players like BlackRock Inc. This optimism, coupled with a significant year-to-date price increase, suggests a positive short-term impact on Bitcoin's price.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90