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Bitcoin price after halving - gains back
Bitcoin gives in - halving effect fizzles out: Current developments and the future prospects for the cryptocurrency. Find out more here.
Bitcoin price after halving - gains back
In recent days, Bitcoin has already lost the gains it made at the beginning of the week. On Wednesday evening, the price of one unit of the oldest and best-known cryptocurrency on the Bitfinex trading platform fell to the weekend level of $64,809. A significant event in the crypto market took place over the weekend – the so-called “Halving”. This event halves the reward for verifying Bitcoin transactions every four years, resulting in a reduction in Bitcoin supply growth that has historically accompanied price increases.
The initially expected price increase as a result of the halving did not last on Monday as investors had already factored in the benefits of the event. Therefore, there was already a slight decline in the Bitcoin price on Tuesday, which accelerated into a downward movement on Wednesday. According to crypto expert Timo Emden from Emden Research, calm has returned to the crypto market for the time being after the Bitcoin halving. Investors had been anticipating the event for a long time and had already predictably taken into account the effects of the artificial supply shortage.
According to Emden, investors could now increasingly turn their attention to monetary policy developments. The prospect of falling capital market interest rates worldwide could further increase the attractiveness of Bitcoin. Hopes for an easing of monetary policy headwinds in both the US and Europe could provide additional boost to Bitcoin and other cryptocurrencies. In return, given rising interest rates, investors could move away from risky forms of investment and look for fixed-interest alternatives.
The coming days will show how the Bitcoin price develops and whether the effects of the halving will lead to noticeable changes on the crypto market in the long term. Investors will be closely watching how monetary policy developments worldwide impact cryptocurrencies and what role Bitcoin will play in this environment.