Bitcoin Price Prediction as Less Than Two Weeks Remain Until Bitcoin ‘Halving’ Event – $100,000 Incoming?
As the Bitcoin ‘halving’ event approaches in less than two weeks, speculation about Bitcoin price prediction intensifies, with some analysts eyeing the $100,000 mark.
Currently, Bitcoin (BTC) has climbed to $69,395, reflecting a modest uptick.
This pivotal event, which cuts the mining reward in half, historically triggers significant market movements, igniting debates on its potential impact on Bitcoin’s valuation.
Bitcoin halving, set to occur in April 2024, is an event that halves the reward for mining new blocks, reducing miner earnings for transaction verification by 50%. This reduction, happening every 210,000 blocks or roughly four years, will continue until 21 million bitcoins are in circulation.
Halving is crucial for traders as it cuts the new bitcoin supply, potentially hiking prices if demand stays stable. The upcoming halving at block 740,000 will decrease the reward from 6.25 to 3.125 bitcoins.
Halving progress 99%. #Bitcoin pic.twitter.com/Y2Du9WgvZw
— Root
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