BLK - Bitcoin Halving May See Rise In King Crypto Sales Forecasts Crypto.Com CEO But 'Decent Action' Anticipated Within Next Six Months | Benzinga
In the lead-up to the ‘halving’ event, Crypto.com CEO Kris Marszalek anticipates a surge in Bitcoin (CRYPTO: BTC) sales. This event, expected to significantly boost Bitcoin’s price over time, is predicted to occur around Apr. 20.
What Happened: The ‘halving’ event decreases the new supply of Bitcoin and has historically been a positive influence on prices. However, there are uncertainties about a repeat performance, considering that Bitcoin already reached a record high in mid-March, reported Bloomberg.
Marszalek proposed that as the ‘halving’ date nears, there could be a rise in selling due to ‘buy-the-rumor, sell-the-news’ trading. Despite this, he is confident that the ‘halving’ event will make a “substantial difference” and is a “positive development for the market” over a longer period.
Inflows into three-month-old spot-Bitcoin exchange-traded funds in the U.S. helped the token reach an all-time peak of $73,798 last month.
Marszalek expressed his anticipation ...