Is Bitcoin halving period a good time to invest in the crypto asset?
Bitcoin halving events have historically provided global investors with successive bullish momentum that have often resulted in all-time high levels. As the Bitcoin halving event in 2024 approaches on April 19, questions have been raised about whether the market will repeat itself once again or not. Investors are waiting eagerly for the appropriate moment to invest in the world's largest cryptocurrency, with lingering questions about whether it would be the right time to invest.
Bitcoin price action history suggests that similar to the halving events of the past, the halving event on April 19 could provide an opportunity for investors to invest their capital in the cryptocurrency. It showed a steep climb from $42,000 at the beginning of the year to $72,000 on March 12 to establish a brand new all-time high level. The development came only a week after it had toppled the 2021 all-time high of $68,729. During this time, the US Federal Reserve maintained the interest rates. However, the rates are expected to be slashed in the later months of 2024.
The price action of the world's largest cryptocurrency might also be influenced by unknown and dynamic macroeconomic conditions. 2024 is experiencing more than half of the world population voting to select their respective governments. While this can be one of the influencing aspects for BTC’s price, two major factors will influence the volatility more. One of these factors will be the approval of 11 spot Bitcoin ETFs following prolonged delay, while the other is the
