Only a few years back, only the primary crypto lovers (who believed in its revolutionary nature) celebrated the Bitcoin halving. However, the upcoming halving event has already obtained significant attention as the largest institutions based on Wall Street are adopting it. Formerly, just the earliest investors knew that it would prove a deflationary asset. Fourth Bitcoin halving is just around the corner now and coming closer fastly now. Less than a thousand blocks are remaining now and it will take only 6 to 7 days for miners to mine these blocks. Estimated date of $BTC halving is now 19th – 20th April.
Bitcoin’s Massive Pre-Halving Retracement Surprises the Investors
The crypto market onlookers consider that the looming event of halving will potentially offer great benefits to investors. As per the reports, the halving episode takes place nearly every 4 years. The respective event cut the supply of the biggest crypto token in half. This potentially develops a scarcity effect, turning the token into “digital gold.”
In line with the historical data, the upcoming event is going to pave the way for an exclusive bull run cycle. Nonetheless, this time it will not be the same as the former events. The popular crypto exchange called Nexo’s co-founder commented on this development. According to the executive, the halving episode plays the role of an ultimate occasion for the Bitcoin holders. At the moment, the hype regarding the top crypto asset is touching its peak.
More ETF Demand and Lower BTC Supply Fuels to the Potential Value Spike
A potential reason is that the token is facing a reduced supply along with the increasing demand for ETFs. Both these things combine to make the token explode in terms of its value. The market experts say that the crypto asset is making an ultimate retrace between the halving takes place. This offers an opportunity for the investors to buy more tokens before the halving. In addition to this, [ccpw id=60415] is entering the re-accumulation phase.
This stage includes some sideways movements and some investors get bored of it. Nevertheless, there is a need to comprehend the bigger picture in the long run. The re-accumulation phase can take up to a few weeks to even 150 days. After accomplishing the re-accumulation zone, the crypto token will break out to the new highs. In the meantime, Bitcoin will face increased growth concerning parabolic uptrend.
