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Bitcoin halving approaches: Crypto industry reacts

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Cryptocurrencies

Bitcoin (BTC) is ranging below $67,000, as the largest asset by market capitalization is preparing for its halving event, estimated to occur on April 20, according to Nicehash countdown.

Bitcoin ranges below $67,000 on Monday, four days away from the halving event. The fourth BTC halving is scheduled to occur on April 20. JP Morgan analysts said in a research note that the halving is more than priced in. Bitcoin halving related meme coin HULVIN rallies 44% overnight. Bitcoin is ranging below $67,000, as the largest asset by market capitalization is preparing for its halving event, estimated to occur on April 20, according to Nicehash countdown.

Supply dynamics may influence the asset’s price, and as seen in previous halving cycles, Bitcoin price hits new all-time highs within 12-18 months post the halving. In the weeks leading up to the halving, there is higher participation from traders, and the recent approval of Spot Bitcoin ETF by the US Securities and Exchange Commission has opened the gates to institutional investment in BTC.

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