Investorideas.com

Call 800 665 0411 to learn about our services for your stock

Search   Follow Investorideas on Twitter   Investorideas is on Facebook   Investorideas is on Youtube   Investorideas is on Pinterest  Investorideas is on stocktwits   Investorideas is on tumblr   Investorideas is on LinkedIn   Investorideas Instagram   Investorideas Telegram   Investorideas Gettr   Investorideas RSS




Share on StockTwits

Bitcoin halving countdown is ON but will be surprising price non-event

 

April 19, 2024 (Investorideas.com Newswire) The Bitcoin halving - likely on Friday or Saturday - will be a 'price non-event', predicts the CEO of one of the world's largest independent financial advisory, asset management and fintech organizations.

The prediction from Nigel Green of deVere Group comes as the halving is expected to take place on April 19 or 20, depending on the exact current rate at which Bitcoins are created.

Bitcoin halving is a programmed event that occurs approximately every four years, reducing the reward miners receive for validating transactions by half. This mechanism ensures scarcity and controls inflation in the Bitcoin network.

With each halving, the rate of new supply entering the market decreases, making Bitcoin increasingly scarce over time.

The deVere CEO says: "Despite it being one of the biggest moments in crypto, the halving is likely not to move the needle too much in terms of values.

"Indeed, it's likely to be a major price non-event.

"Investors, traders, and speculators, priced-in the halving months ago.

"As a result, a significant portion of the positive economic impact was experienced previously, driving up prices to fresh all-time highs last mont."

Bitcoin reached a new all-time high price of $75,830 on March 14 2024.

He continues: "The effects of the halving are not confined to the day it happens.

"Instead, they unfold gradually over time, influencing market dynamics - and, as history teaches us, driving the price upwards - in the months and years following the event.

"The reduction in the rate of new supply leads to a more pronounced scarcity, reinforcing Bitcoin's status as a store of value asset.

"This long-term narrative often plays a more significant role in shaping investor sentiment and price trends than the immediate impact of the halving itself."

Following the first halving in November 2012, Bitcoin's price jumped around 9,500% to a peak of $1,160 over 367 days.

The 2016 halving saw the price jump by 3,040% over 562 days to 19,660, and the 2020 halving saw it surge by 802% to a top of $73,800 over 1,403 days.

The deVere CEO notes, there might even be "a temporary sell-off as investors employ a 'sell the news' strategy."

Those who follow the "sell the news" strategy take advantage of this anticipation by buying the asset before the news is released, hoping to capitalize on the price increase leading up to the event. However, once the news is officially announced or released, there can be a sell-off as investors who bought in earlier start to take profits. This can cause the price to decline.

Nigel Green concludes: "The Bitcoin halving is a landmark moment but the actual event will likely be a 'flop' for prices on the day.

"The huge significance lies in the positive impact it will have in the longer term on the price of the world's biggest digital asset."

e: george@priorconsultancy.co.uk
t: +44 207 1220 925
Twitter: @PriorConsults

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients. It has a network of offices around the world, over 80,000 clients and $12bn under advisement.

More Info:


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp






News and Research for Bitcoin, Blockchain, Digital Currency Stocks and ICO's

Get more Bitcoin, Blockchain, Digital Currency stock investor ideas - news, articles, podcasts and stock directories

Buy a crypto guest post on Investorideas.com