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BlockNews
Home CRYPTO

Bitcoin Could See Major Selling Pressure Post Halving and Here is Why

Michael Juanico by Michael Juanico
April 16, 2024
in CRYPTO, OPINION
Reading Time: 3 mins read
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  • The upcoming Bitcoin halving event is expected to follow the pattern of buy-the-rumor, sell-the-news, according to the Crypto.com CEO.
  • While there will be selling pressure initially, the long-term impact of the halving will be positive on Bitcoin’s price.
  • Industry experts have mixed opinions on the impact of the halving, with some anticipating a substantial rally post-halving, while others expect negative price action before and after the event.

The Bitcoin halving has historically been followed by significant bull runs. However, some experts are cautious about anticipating a major price surge this time. There are a few key factors that could dampen bullish momentum around the 2024 halving.

NEW: #Bitcoin will likely see immediate selling pressure after the halving. state @cryptocom CEO @kris

Although boosting $BTC price in the long term

— BlockNews.com (@blocknewsdotcom) April 16, 2024

Short-Term Selling Pressure

Leading up to the halving, there is expected to be selling pressure in the market as traders take profits. Cryptocom CEO Kris Marszalek predicts traders will “buy the rumor, sell the news” around the event itself. This means hype building up to the halving may not translate into a sustained price increase right after. The timing in April could also contribute to selling activity.

Miners Preparedness

Many miners have been accumulating BTC and upgrading equipment ahead of the halving. This preparation could reduce the impact on the Bitcoin supply rate. Marathon CEO Fred Thiel believes the halving may already be priced into the market to some extent. However, the computational difficulty for miners will still double overnight.

Cautious Industry Outlook

Some industry leaders like Arthur Hayes are cautious about excessive bullishness. Coinbase has similarly warned traders not to rely too heavily on the typical post-halving price appreciation. The unpredictable macro environment makes the halving impact uncertain.

Long-Term Positive Effects

Despite short-term uncertainties, most experts remain optimistic about Bitcoin’s price potential in the 6 months following the halving. Kris Marszalek expects “pretty decent action” during this period. The reduced BTC supply rate will likely have a positive effect long-term.

Conclusion

While the Bitcoin halving may not immediately trigger a major bull run, the event will likely support more sustainable, long-term growth. The halving remains a significant milestone for Bitcoin that highlights the assets fixed supply. Even if short-term selling materializes, the halving will reinforce Bitcoin’s deflationary nature and role as a store of value over the long run.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: Bitcoin Halvingbull runCoinbaseCryptocomKris Marszalek
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Michael Juanico

Michael Juanico

Michael is a BSBA Management graduate from Mindanao State University and has been a professional content writer since 2019. He began exploring cryptocurrency in 2021 and has since made blockchain and digital assets his primary focus. For nearly four years, Michael has contributed research and editorial content at Aiur Labs and BlockNews, producing clear and accessible coverage of market trends, trading strategies, and project developments. He is transparent about his personal holdings in Bitcoin, TRON, and select meme tokens, combining writing expertise with hands-on market experience to deliver trustworthy insights to readers.

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