Over the last week, Bitcoin (BTC) investors enjoyed much profit as the crypto asset gained 9.34% to trade above $71,000 based on data from CoinMarketCap. Currently, most of the BTC market is highly expectant of the potential large price gains that the current bull cycle could present.
However, commenting on the immediate future, Bitwise CEO Hunter Horsley has stated that the upcoming halving event – a key part of the bull cycle – could be the most significant in Bitcoin’s trading history as a result of an impending massive decline in the token’s supply.
Bitcoin Price To Impact Supply Reduction And Token Demand – Bitwise CEO
In a post on X on March 29, Hunter Horsley shared that the Bitcoin Halving event slated for April 2024 could have the most profound supply and demand effects recorded ever in the asset’s history. For context, Bitcoin halving is a phenomenon that occurs every four years in which the block reward for BTC miners is reduced by half.
The Apr
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