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Bitcoin Halving 2024: The much-awaited Bitcoin halving occasion nears, and a dichotomy between the optimism of bullish buyers and the warning of so-called ‘halving bears’ has taken the crypto world by storm. This primarily emerges because the BTC token braces for phenomenal worth volatility forward of the halving occasion, piquing vital investor consideration.

With the overall variety of bitcoin tokens that miners can probably harvest being halved (because the occasion title suggests), bullish sentiments available in the market sign a possible worth rally for BTC, aligning with the shortage of latest tokens harvested. Whereas skeptics worry a downturn as miners are rewarded much less, in flip decreasing the motivation to mine extra Bitcoin. This sentiment conflict available in the market typically manifests in heightened market volatility, as seen by the BTC token at the moment.

As of press time, the Bitcoin token traded at $63,270, with a 4.70% dip in its worth over the previous 24 hours. Notably, the token illustrates phases of a pre-halving correction, with the market witnessing panic promoting and FOMO shopping for in hand. This phenomenon curated waves throughout the huge sea of crypto, with buyers speculating over Bitcoin’s worth motion post-halving. Historical information portrays that the token witnesses a dip proper earlier than the halving, whereas following an prolonged consolidation post-halving, the BTC worth trajectory embarks upon a parabolic uptrend. Here’s an outline of a number of the dwell market updates amid the upcoming BTC halving saga:

BTC Miners To Sustain Staggering Losses

According to the insights revealed by Barchart, a platform streamlining real-time updates on all main commodities exchanges, BTC miners may maintain annual losses of as much as $10 billion post-halving. This is primarily attributed to the almost $2 billion brief curiosity in 15 outstanding crypto-mining shares, together with Marathon Digital, CleanSpark, Riot Platforms, Bitfarms, and plenty of others.

High brief curiosity in BTC mining shares flags skepticism surrounding the companies’ future prospects, in flip stirring a whirlpool of bearish sentiments on BTC post-halving. A way of warning underlined by ‘halving bears,’ as talked about above, additional falls in keeping with this.

BREAKING 🚨: Bitcoin Miners

This week’s $BTC halving may end in Bitcoin miners sustaining annual losses of as much as $10 billion pic.twitter.com/s9RbbdnFPj

— Barchart (@Barchart) April 16, 2024

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