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Bitcoin Halving Successfully Completed: What's Next in Price?
The highly anticipated Bitcoin Halving event finally wrapped up on April 19 and April 20. This event caused a planned decrease in the issuance rate of the new BTC. The half-ling event, which takes place every four years, halves the mining rewards.
The adjustment was validated by data from analytics platforms such as mempool.space and Blockchain.com. During the Bitcoin halving, the price remained relatively stable and hovered near the $64,000 level after the halving.
It seems that the Bitcoin halving event will not have an immediate impact on the BTC price. However, strong support can be expected in the next 12 months and until 2025.
The current optimism surrounding Bitcoin's short term prospects could lead to a pause in the Federal Reserve's rate cuts. In addition, the Middle East crisis, which coincides with the Bitcoin Halving, will also be a factor.
Bitcoin, including indicators pointing to rising tensions, may face challenges due to broader macroeconomic factors. While the Halving event is likely to have a greater impact on Bitcoin mining firms, rather than directly affecting the cryptocurrency's price, it is expected to significantly impact their revenue.