CDS Crypto News Bitcoin Halving 2024 Nears: ETFs Eye Surge as Investors Anticipate
Crypto News

Bitcoin Halving 2024 Nears: ETFs Eye Surge as Investors Anticipate

In the past, Bitcoin halving events have consistently driven bullish sentiment in the market, often leading to significant price increases. Many analysts are now predicting a potential rally towards the $200,000 mark.

65
Bitcoin Halving 2024 Nears: ETFs Eye Surge as Investors Anticipate

Crypto News- With just three weeks or 21 days left, the highly anticipated Bitcoin halving of 2024 is set to occur around April 19, with a possibility of a slight variation to April 20, depending on the block time average of the last 20,160 blocks. This event, marked by block 840,000, signifies a programmed reduction in BTC rewards, halving the mining rewards awarded to Bitcoin miners from 6.25 BTC to 3.125 BTC, as it does approximately every four years or every 210,000 blocks.

Bitcoin Halving 2024 Nears: ETFs Eye Surge as Investors Anticipate

Preparations are underway among Bitcoin miners, many of whom have been liquidating their holdings to upgrade their mining equipment in anticipation of the halving. Historically, Bitcoin halving events have driven prices higher in the long term due to supply reduction, leading some to predict Bitcoin prices reaching $200,000 by the end of 2025.

Canaccord Report: Bitcoin ETFs Poised for Growth Post-Halving

The upcoming halving is seen as a potential catalyst for Bitcoin ETFs, according to a recent report by Canaccord Genuity. The report highlights Bitcoin’s significant 60% surge in the first quarter, attributed to the launch of spot ETFs, the approaching halving, and increased risk appetite in financial markets. Analysts at Canaccord, led by Michael Graham, foresee a further boost for Bitcoin ETFs post-halving, expecting continued momentum as retail investors seek exposure to crypto through tax-advantaged accounts.

Despite the optimism surrounding ETFs, publicly traded Bitcoin miners have underperformed BTC during the first quarter, raising concerns about their profitability post-halving. This divergence suggests a shift in investor sentiment towards ETFs as an alternative means of accessing Bitcoin. Canaccord’s report suggests that if historical trends hold, the months following the halving could usher in a more bullish period for Bitcoin, potentially benefiting ETF investors.

Bitcoin Halving 2024 Nears: ETFs Eye Surge as Investors Anticipate

Leave a comment

Leave a Reply

Related Articles

Bitcoin Mining CEOs Stay ‘Optimistic’ Ahead of Halving, Reports Bernstein

None of the publicly traded mining companies have managed to outperform Bitcoin...

SLERF and MEW Crypto Led the Rise of Solana Meme Coins Due to Whale Movements

SLERF and MEW crypto were notable for their rises.

Geopolitical Tensions Sank the Sector, but Solana Spearheaded the Recovery

Solana spearheaded the recovery, and the cryptocurrency market recovered a bit.

Crypto Market’s Potential Rebound: Awaiting This Week’s Economic Data and Earnings

In the upcoming week, the US economic calendar brims with anticipation, featuring...