CEO of Crypto.com expects Bitcoin to be sold ahead of halving
Crypto.com CEO Kris Marszalek remains optimistic about the long-term impact of Bitcoin’s upcoming halving event on the market, despite the possibility of short-term selling volatility. Marszalek believes that historical patterns in BTC price movements following similar network updates indicate that the halving will ultimately have a positive effect.
In an interview with Bloomberg, Marszalek pointed out that previous halving events have resulted in price increases. However, he also acknowledged the uncertainty caused by Bitcoin’s recent record highs. In March, Bitcoin reached an all-time high of $73,750, breaking its previous record before the halving event.
Although short-term selling cannot be ruled out as the fourth halving approaches on April 20, Marszalek believes that it will ultimately benefit the market. He expects significant activity in the six months following the halving.
Currently, Bitcoin is trading at $63,132, which is a 14% decrease from its March highs. The halving will reduce the daily supply of Bitcoin miners’ rewards from 6.25 BTC to 3.125 BTC, impacting mining profitability.
Different figures in the crypto industry hold varying views on the effects of the halving. Tezos co-founder Arthur Breitman sees it as a reduction in security budget and believes it could address overpayment for security. On the other hand, former BitMEX head Arthur Hayes anticipates BTC price declines due to limited dollar liquidity during the period. Marathon CEO Fred Thiel suggests that the halving’s impact may already be priced in, citing successful spot ETF approvals.
Despite differing opinions, the Bitcoin halving remains a significant event in the crypto world, and its long-term implications continue to generate excitement and speculation.
