The highly anticipated Bitcoin BTC/USD halving event is on the horizon.
What Happened: Every four years, a bitcoin block is halved. Once this event occurs, it could set the stage for significant price movements in the cryptocurrency market in late 2024.
The next halving event is expected to occur on April 2024.
Following this event, Bitcoin may see a gradual increase in value. Or, then again, it could be a non-event similar to the Ethereum merge.
Recall how, after the merge completed last year, the price of Ethereum went up just slightly on Sept. 15, trading around $1,600.
It subsequently dropped back down to around $1,450 the next day.
Why It Matters: All eyes will be on Bitcoin in 2024. The market is bracing itself for a potential short-term surge.
This latest development aligns with the broader themes of accessibility and mainstream crypto adoption set to be explored at Benzinga's Future of Digital Assets conference on Nov. 14 in New York City.
Industry titans BlackRock, DTCC, OCC, State Street, Société Générale, Hedera, Citi, BMO, Northern Trust, Citibank, Amazon, S&P Global, Google, Invesco, and Moody’s will join our Nov. 13 Fintech Deal Day and Nov. 14 Future of Digital Assets. Secure a spot here to join them!
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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