2023-11-20 15:33:14
The cryptocurrency community has begun the countdown – the landmark Bitcoin halving is coming soon. Binance CEO Changpeng Zhao (CZ) also drew attention to the upcoming event. After a brutal crypto winter, investors are eagerly anticipating the quadrennial Bitcoin halving, which is usually followed by a period of bullish price increases. This is a key event in the history of Bitcoin, since in addition to lowering the reward for miners, it also continuously reduces the rate of issuance of coins. Related: Halfway to the 4th Bitcoin Halving: Lessons and Lessons from the Past We recently wrote about CZ’s belief that an all-time high is expected after the Bitcoin halving, and now he once again reminded his followers on X (formerly Twitter) that until the event, only 135 days left. #Bitcoin halving soon. pic.twitter.com/xp4mWyMKkD — CZ ???? Binance (@cz_binance) November 19, 2023 In addition to Binance’s CEO, popular trader and analyst Rekt Capital also commented on the highly anticipated event. He set up a timeline that he divided into two parts: events before and after the halving. He pointed out that a rally is expected about 60 days before the event, as investors tend to buy on the hype and then “sell the news.” According to our experience, in the year (or years) after the Bitcoin halving, the price of the cryptocurrency will rise to new historical highs (because the supply is decreasing, but the demand is increasing). In 2020, the BTC price was still below $10,000 two months before the event. However, thanks to the bullish momentum, its value surpassed the previous cycle’s high of $17,000 and marched all the way to $69,000.
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