Bitcoin before halving: What lies ahead for the cryptocurrency market?
The Effects of Bitcoin Halving on the Cryptocurrency Market
As the next Bitcoin halving approaches, emotions and speculations regarding the impact of this event on the cryptocurrency market are growing. Industry experts were asked about their predictions and observations concerning the upcoming halving and the potential consequences it may bring. Kurt Wuckert Jr. from CoinGeek and Joshua Petty from Ordinals Wallet shared their insights on the matter.
Experts’ Opinions on Halving
Kurt Wuckert Jr. noted that halving does not directly affect the Ordinals market, which operates independently of this event. He emphasized that each blockchain within the Ordinals market is becoming stronger, remaining unaffected by the effects of halving.
On the other hand, Joshua Petty believes that halving draws attention to Bitcoin itself, consequently increasing interest in the cryptocurrency market, including the Ordinals market. Petty highlights that the halving phenomenon attracts more investors and institutions, which could have a positive impact on the market.
The Future of Bitcoin Post-Halving
Wuckert Jr. believes that it is challenging to stop Bitcoin due to its unique characteristics, likening it to gold and cash. In his opinion, even in the event of a ban or government control, Bitcoin can survive, opening up new possibilities for the development of the cryptocurrency market.
Meanwhile, Petty sees halving as a positive factor influencing the adoption of cryptocurrencies by a wide range of investors. Retail and institutional investors are increasingly turning to Bitcoin, which could significantly increase its value in the coming years.
Forecasts for the Future Cryptocurrency Market
The upcoming Bitcoin halving is prompting both individual investors and institutions to purchase this cryptocurrency in anticipation of market changes. They expect a supply shock and forecasts that suggest a possible increase in Bitcoin’s value to even above $100,000 by the end of 2024. These optimistic scenarios may motivate more people to invest in cryptocurrencies.
