Bitcoin Halving: Short-Term Selling Expected, Long-Term Optimism Prevails – Insights from Crypto.com CEO Kris Marszalek
The upcoming Bitcoin halving event is causing a stir in the cryptocurrency market, with experts offering differing opinions on its potential impact. While some anticipate short-term selling volatility, Crypto.com CEO Kris Marszalek remains optimistic about the long-term effects.
In an interview with Bloomberg, Marszalek pointed out the historical trend of price increases following halving events, despite the recent record highs that Bitcoin has reached. The cryptocurrency hit an all-time high of $73,750 in March, marking a significant milestone before the halving event scheduled for April 20.
Although Bitcoin is currently trading at $63,132, reflecting a 14% decrease from its peak, Marszalek believes that the halving will ultimately benefit the market. He predicts “pretty decent action within the six months following the Bitcoin halving,” indicating a positive outlook for the cryptocurrency’s future.
The fourth halving will reduce the daily supply of Bitcoin miners’ rewards by half, impacting mining profitability. Various industry figures have shared their perspectives on the event, with Tezos co-founder Arthur Breitman seeing it as a potential reduction in security budget, while former BitMEX head Arthur Hayes expects price declines due to limited dollar liquidity.
Marathon CEO Fred Thiel suggests that the halving’s impact may already be factored into the market, citing successful spot exchange-traded fund approvals. As the cryptocurrency community awaits the upcoming halving, the market remains divided on its implications, with both optimism and caution prevailing among industry experts.
