Bitcoin Reaches $63,000 and Prepares for Halving Event – Will Prices Soar Above $100,000?

InfoQuest – Bitcoin has rebounded above the level of 63,000 or about 2,300,000 baht as it approaches the phenomenon of Bitcoin Halving which is expected to happen on Friday, April 19.

As of 6:09 pm local time, Bitcoin rose 0.5% to $63,043.75 in trading on the platform Coinbase (NASDAQ: ).

Cryptocurrency market websites are counting down the days until the Bitcoin Halving, while the latest information from most websites says that there are only 2 days left until the Bitcoin Halving.

Bitcoin Halving is a Bitcoin halving event that occurs every four years, cutting the rate of new Bitcoin creation in half. while reducing the benefits to Bitcoin miners. To maintain a balance between the supply and demand of Bitcoin in the market.

Bitcoin Halving has happened many times before. And every time it happened, it was a catalyst for Bitcoin to rise to new heights. Investors around the world are keeping an eye on Bitcoin Halving this week, which will be the fourth time such a phenomenon has occurred.

“The market got a supply shock. This is because the supply of Bitcoin has decreased to only half. which is in terms of demand-supply You will have less supply coming into the market. and even if demand remains at the same level Prices will begin to rise,” said Will Clements, founder of Reflexivity Research.

Bitcoin is close to reaching $69,000 in November 2021. After fluctuating to around $8,800 before the Bitcoin Halving in 2020 and before, Bitcoin went back to the $20,000 level at the end of 2017 after settling at just $650 before the 2016 Bitcoin Halving.

Furthermore, Bitcoin reached an all-time high of $73,798 on March 14, 2024, breaking the previous high of $68,990 set in November 2021.

Bitcoin rose 157% in 2023 and has now retreated almost 50% since the start of 2024.

Gryphon Digital Mining, a Bitcoin mining company Bitcoin is expected to surpass $100,000 this year. There is also a chance to rise above the $150,000 mark as well.

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