A renowned crypto expert and trader holds the opinion that the highly anticipated Bitcoin halving scheduled for April 2024 will not have a significant impact on market sentiment, despite the excitement in the crypto community. In a social media post, Peter Brandt dismisses the hype surrounding the event, stating that it is merely a lot of commotion over nothing.
“The Bitcoin halving hype is a lot of ado about nothing,” wrote Peter Brandt on social media.
Brandt acknowledges that such sentiments may cause temporary price fluctuations in the foremost cryptocurrency.
“But if we compare the percentage of supply reduction with daily trading volumes, we get the size of a mosquito’s ass,” Brandt concluded.
On the other hand, experts at CryptoQuant foresee the possibility of Bitcoin’s price surging to $50,000-$53,000 at the start of 2024. This bullish trend is attributed to several factors, including the upcoming halving and the anticipated approval of a Bitcoin ETF by US regulators.
Earlier, analysts at Matrixport predicted that the price of Bitcoin could skyrocket to $125,000 by the end of 2024, as the halving approaches.
Eleanor Ashworth is editor-in-chief at BTCNews. A Cambridge-trained journalist with 18 years across the Financial Times, Reuters and the Telegraph, she joined the crypto beat in 2017 after covering the Bank of England and HM Treasury. She holds the SABEW Best in Business award (2022) and was shortlisted for the British Journalism Awards (2023). At BTCNews she sets the editorial line for Bitcoin and macro markets coverage, with a focus on institutional adoption, regulation and central-bank policy. Based in London.
