Only 36 days remain for preparation, as the Bitcoin halving is set for April 19th. Although we've already reached a new all-time high, something that historically occurred only after each halving, analysts are anticipating big things!
The miners
For Bitcoin miners, the halving is not as pleasant. They see their income (in Bitcoin) cut in half. After the halving occurs, they will only earn 3.125 Bitcoin for each block they produce, as opposed to the 6.25 Bitcoin they currently receive.
Concerns
Ki Young Ju, CEO of CryptoQuant, is worried about the noticeable rise in sell orders from Bitcoin miners, who have sold 6,145 Bitcoin in the last month, valued at around 384 million dollars.
Ali Martinez shares his concerns, highlighting that larger Bitcoin holders, known as whales, are selling off parts of their holdings, leading to a 4.83 percent decrease in the number of addresses with 1,000 or more Bitcoin in the past two weeks.
Despite miners selling over 6,000 Bitcoin, the impact has been minimal due to current purchases by Bitcoin Spot ETFs.
coming weeks
In the next few weeks, there will be speculation about whether we will see a market correction. Bitcoin is currently going through an exceptionally strong phase, with every small dip being quickly bought by optimistic investors, showing that negative news doesn't significantly impact its price.
This could be risky, though, as it might indicate that all potential buyers have already entered the market, leaving little room for new investment. Despite these concerns, the actions of Spot Bitcoin ETFs offer reassurance, pointing towards an exciting time ahead for Bitcoin.
Fear of missing out?
Would you like to stay up to date with the latest crypto news? Sign up for our weekly newsletter here!