2024-04-17 18:26:31
InfoQuest – Bitcoin has rebounded above the level of 63,000 or around 2,300,000 baht as it approaches the Bitcoin Halving phenomenon that is expected to occur on Friday, April 19.
As of 6:09 p.m. local time, Bitcoin rose 0.5% to $63,043.75 in trading on the Coinbase (NASDAQ:) platform.
Cryptocurrency market websites are counting down the days until the Bitcoin Halving, while the latest information from most websites states that there are only 2 days left until the Bitcoin Halving.
Bitcoin Halving is a Bitcoin block halving event that occurs every four years, cutting the rate of new Bitcoin creation in half. while reducing the rewards given to Bitcoin miners. To maintain a balance between the supply and demand of Bitcoin in the market.
Bitcoin Halving has happened many times before. And every time it happened, it was a factor supporting Bitcoin to surge to new highs. Investors around the world are keeping an eye on the Bitcoin Halving this week, which will be the fourth time such a phenomenon has occurred.
“The market experienced a supply shock. This is because the supply of Bitcoin has decreased to only half. which in terms of demand-supply You will have less supply entering the market. and even if demand remains at the same level Prices will start to rise,” said Will Clements, founder of Reflexivity Research.
Bitcoin is close to reaching $69,000 in November 2021. After adjusting to around $8,800 before the Bitcoin Halving in 2020 and before, Bitcoin rebounded to the $20,000 level in late 2017 following settling at just $650 before the 2016 Bitcoin Halving.
Moreover, Bitcoin soared to an all-time high of $73,798 on March 14, 2024, breaking the previous high of $68,990 set in November 2021.
Bitcoin surged 157% in 2023 and has now rebounded nearly 50% since the start of 2024.
Gryphon Digital Mining, a Bitcoin mining company Bitcoin is expected to surpass $100,000 this year. There is also a chance to soar above the $150,000 level as well.
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