As the eagerly anticipated Bitcoin halving event draws closer, the cryptocurrency is becoming more volatile. The price of Bitcoin is currently at $62K, with bulls and bears making predictions on how the token would move after its halving.
HISTORICAL POINTS
- As the BTC halving draws closer, the cryptocurrency industry prepares for further volatility.
- Right now, the price of bitcoin is trading at $63,000.
- In the larger cryptocurrency market, panic selling and FOMO buying are prevalent.
Bitcoin Halving 2024: As the eagerly anticipated halving event draws closer, the cryptocurrency community is experiencing a polarisation between the cautious approach of "halving bears" and the sanguinity of bullish speculators. This is mainly because investors are becoming increasingly interested in the BTC token as it prepares for extraordinary price volatility before the halving event.
The bullish market mood indicates that the total quantity of Bitcoin tokens that miners can possibly harvest will be half, as the event's name implies. This means that the scarcity of new tokens will coincide with a possible price surge for BTC.
Tags
Bitcoin-News