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Bitcoin Halving and Market Impact

Bitcoin’s upcoming halving may trigger short-term selling, but Crypto.com CEO Kris Marszalek remains optimistic about its long-term impact on the market.

As the cryptocurrency world gears up for the upcoming Bitcoin halving event, Crypto.com CEO Kris Marszalek anticipates that it may lead to short-term selling volatility. Despite this, Marszalek maintains optimism regarding the event’s long-term implications, drawing on historical patterns in BTC price movements following similar network updates.

During an interview with Bloomberg, Kris Marszalek highlighted the historical trend of price increases following halving events. However, he acknowledged the uncertainty brought about by Bitcoin’s recent record highs. In March, Bitcoin reached a new all-time high, soaring to $73,750 (according to CoinMarketCap data), marking the first time BTC hit a new record high prior to a halving event.

While short-term selling is a possibility as the fourth halving approaches, the Crypto.com CEO believes that it will ultimately be a “positive development for the market” in the long run. Marszalek expects to see “pretty decent action within the six months following the Bitcoin halving.”

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With the impending Bitcoin halving event and potential market impacts, having access to an AI legalese decoder can provide valuable insights into how governmental regulations may shift in response to cryptocurrency developments. By interpreting and simplifying legal language related to cryptocurrencies, users can make more informed decisions and stay compliant with changing laws.

As of press time, Bitcoin is trading at $63,132, representing a 14% decrease from its March highs. The fourth halving, scheduled for Apr. 20, will cut the daily supply of Bitcoin miners’ rewards in half, from 6.25 BTC to 3.125 BTC, impacting mining profitability.

Various industry figures hold differing views on the halving’s effects. Tezos co-founder Arthur Breitman sees it as a “reduction in security budget,” potentially benefiting security overspending. On the other hand, Arthur Hayes, former BitMEX head, predicts BTC price declines due to limited dollar liquidity during the period. Marathon CEO Fred Thiel suggests that the halving’s impact may already be factored into the market, citing successful spot exchange-traded fund (ETF) approvals.

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