CEO of bit by bit Hunter Horsley has caused a storm in the crypto community with his latest statement.Horsley pointed to the future Bitcoin halving He compared this event to the previous event in 2020. By that time, Bitcoin was selling for about $9,000. With Bitcoin currently hovering around $70,000, the expected reduction in dollar supply soon will be far greater than all such events in the past. This halving, scheduled for April 19th, is expected to be a major bullish factor for Bitcoin price.
Horsley's comparison highlights the magnitude of the upcoming halving. This event is expected to put upward pressure on the cryptocurrency's price as new Bitcoin generation decreases. The previous halving in 2020 resulted in a significant price increase, and there is growing optimism that Bitcoin's value could rise even further during the next halving.
Bitcoin halving affects mining hash rate
The upcoming Bitcoin halving has more context than just the event itself. Before the last half-life, federal reserve It introduced a zero interest rate policy and launched a massive quantitative easing program. These measures affected many markets, including the cryptocurrency market. A similar scenario could impact the crypto world, as the Federal Reserve is currently considering cutting interest rates. However, this speculation leads to the question of how successful the desire for newly issued Bitcoin ETFs will be.
Also, according to a study by Hashrate Index, Bitcoin hash rate If prices stabilize or grow slowly, the connection may be severed after the halving. This change in mining difficulty may have a certain impact on miners. If the cost of Bitcoin drops significantly, it may be necessary to improve its effectiveness and hedge volatility and operational risks.
Ethereum Spot ETF Bitwise File S-1
Recently, Bitwise achieved a milestone by filing an S-1 form with the U.S. Securities and Exchange Commission (SEC). Ethereum Spot Exchange Traded Fund (ETF). This action demonstrates the company's determination to navigate the legal system's roller coaster. This aims to build on the success of the Spot Bitcoin ETF, which brought impressive trading volumes upon its debut. This move highlights Bitwise's commitment to expanding investment opportunities in the crypto space.
This is an important step in Bitwise's efforts to provide investors with direct exposure to Ethereum assets. Spot ETFs, unlike futures-based ETFs, offer a more direct relationship with the underlying assets. This kind of approach is based on the company's philosophy of providing innovative investment solutions.
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