In the lead-up to the ‘halving’ event, Crypto.com CEO Kris Marszalek anticipates a surge in Bitcoin (CRYPTO: BTC) sales. This event, expected to significantly boost Bitcoin’s price over time, is predicted to occur around Apr. 20.

What Happened: The ‘halving’ event decreases the new supply of Bitcoin and has historically been a positive influence on prices. However, there are uncertainties about a repeat performance, considering that Bitcoin already reached a record high in mid-March, reported Bloomberg.

Marszalek proposed that as the ‘halving’ date nears, there could be a rise in selling due to ‘buy-the-rumor, sell-the-news’ trading. Despite this, he is confident that the ‘halving’ event will make a “substantial difference” and is a “positive development for the market” over a longer period.

Inflows into three-month-old spot-Bitcoin exchange-traded funds in the U.S. helped the token reach an all-time peak of $73,798 last month.

See Also: Crypto Markets Tumble Following Iran’s Drone Attack Against Israel, Investor Warns Of Continued Selloff

Marszalek expressed his anticipation for “pretty decent action within the six months following the Bitcoin halving.”

Despite Bitcoin’s endorsement by investment heavyweight BlackRock Inc, skepticism about the cryptocurrency persists among many finance professionals. This skepticism was expressed at a recent Miami event.

Price Action: Bitcoin is currently trading at $62,682, experiencing a decline of 1.23% today, yet showing a robust increase of 41.91% year to date, according to the data from Benzinga Pro.

Read Next: Amid Dogecoin Crash, 374 Million DOGE Moved From Robinhood To Unknown Wallet

Image Via Shutterstock