Posted by Xoken.org – The largest cryptocurrency, namely Bitcoin, completed the halving at the end of last week. So, what is the price of Bitcoin today after the halving is complete?
Based on data from CoinMarketCap on Monday (22/4/2024), the price of Bitcoin at 08.10 WIB was observed to be at the level of US$64,890.99.
Meanwhile, when the halving moment that crypto followers had been waiting for occurred, the price of Bitcoin was relatively stable and even decreased slightly by 0.47% to US$63,747.
For some crypto enthusiasts, the halving underscores Bitcoin’s value as an increasingly scarce commodity. However, many analysts also view this with skepticism.
“We do not expect an increase in Bitcoin prices after the halving because it was already expected,” explained JP Morgan last week, quoted by Reuters, Monday (23/4).
Meanwhile, his party predicts that Bitcoin prices will fall after the halving, due to the saturation of purchases and venture capital funding for the crypto industry which has “calmed down” this year.
Later, crypto analyst at S&P Global, Andrew O’Neill, also said that he was skeptical of the lessons to be learned in terms of price predictions from the previous halving.
“That’s just one factor of many that can drive prices,” he said.
Proponents of native cryptocurrencies such as MicroStrategy Inc. Chairman Michael Saylor also praised the currency as a better store of value than traditional fiat currencies, which they say are more susceptible to inflation.
On the other hand, this event provides a potential blow to currency mining companies.
Halving events that occur once every four years have slashed miner rewards, which is the amount of Bitcoin released from the network to compensate companies known as miners for validating transactions.