Bitcoin (BTC) It is on the brink of a major surge.This is mainly due to future plans Bitcoin halvingHalving is a significant event in the Bitcoin network where the reward for mining a new block is halved. This slows down the rate at which new Bitcoins are generated. This event occurs approximately every four years and is a key feature of Bitcoin's economic model and the reason why Bitcoin remains the top cryptocurrency on the market in terms of price.
However, Bitcoin has fallen in price today and is trading at just over $66,000 at the time of writing. Why is BTC falling? Will it recover by the next halving? This is below the level of over $71,000 the asset was trading at early Friday morning. This economic downturn has some investors worried and wondering why Bitcoin is suddenly dropping. However, most experts say this was expected and that we can expect the price of Bitcoin and some altcoins to move multiple times as the halving approaches.
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Will Bitcoin rise above $70,000?
As April began, Bitcoin quickly began its rally toward the $73,000 level reached during the March crypto bull market. With market sentiment so bullish ahead of the halving, almost all predictions made before April were clear that it would happen. However, the recent decline has spooked some investors, as the asset is down 5% in 24 hours.
There is no clear indication as to why Bitcoin is falling today. Volume has increased by 15% in the last 24 hours, so perhaps the price is just correcting. Your assets could skyrocket in the next 24 hours. However, with the halving imminent, we can expect BTC not to fall much unless an event of extreme magnitude overshadows the halving.
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According to most Bitcoin halving predictions, BTC will rebound quickly and return to levels above $70,000. This drop may just be the calm before the storm. A halving event could set new all-time highs for the top cryptocurrencies this month. Therefore, there will definitely be no concerns about asset depreciation as there is today.
This event will have an impact not only on cryptocurrencies, but also on the precious metals market. As Bitcoin becomes more popular, Money The price may fall slightly as investors consider BTC a better alternative. Therefore, this event will be very important in the world of currencies that replace the US dollar.
