Curated News

By: NewsRamp Editorial Staff

April 2, 2024

Bitcoin Hits $70,000 Ahead of Fourth Halving: Tide Capital Releases Key Insights

Bitcoin Hits $70,000 Ahead of Fourth Halving: Tide Capital Releases Key Insights

Key Takeaways (TLDR)

  • Bitcoin has hit the $70,000 mark with 20 days until the fourth halving, fueling fierce speculation and potential for significant gains.
  • Bitcoin will undergo its fourth halving on April 18, 2024, reducing annual selling pressure by $100 billion and diminishing production.
  • Bitcoin's native innovation, the Ordinals protocol, allows data embedding into the blockchain, attracting more users and developers to the community.
  • Blue-chip NFT project mfers launched the meme coin mfercoin, soaring to a $200 million market cap within 12 hours.

Why it Matters

The upcoming Bitcoin halving and the insights provided by Tide Capital have significant implications for investors and the cryptocurrency market. Understanding the potential impact of reduced selling pressure, historical price trends, and ETF inflows can help investors make informed decisions and navigate the volatile crypto market effectively.

Summary

As Bitcoin approaches its fourth halving, reaching the $70,000 mark, Tide Capital has released a research report providing insights into the upcoming event. The report outlines key factors driving Bitcoin's price and predicts a reduction in annual selling pressure by $10 billion post-halving. Additionally, historical trends suggest a significant price increase in the year following the halving, with ETF inflows fueling continued upward momentum.

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