The post When Will Bitcoin Surge Post-Halving 2024? appeared first on Coinpedia Fintech News
As the fourth Bitcoin halving has been completed in a flash, the anticipation of its impact on the market and price of Bitcoin has intensified. Investors are eagerly awaiting clues about the recovery trajectory post-event.
Let’s delve into historical data and expert opinions to unveil the intricate dynamics shaping Bitcoin’s price recovery journey.
The Impact of Bitcoin Halving on Price
Bitcoin’s halving event, occurring approximately every four years, halves the reward for mining new blocks, aiming to maintain scarcity. This mechanism, designed by Satoshi Nakamoto himself, has shown a historical correlation with the price fluctuation of Bitcoin, underscoring its significance in shaping market sentiment.
According to Vetle Lunde, a senior analyst at K33 Research, the immediate aftermath of halving may not spur a significant rally. Lunde opines, “The compounding effect o
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