What are the industry experts saying?
Paul West, CEO of Fumb Games, finds the price fluctuations post-halving interesting but is more captivated by Bitcoin’s future role in society. He proudly notes that his company’s mobile game has introduced over a million new users to Bitcoin, contributing to its ongoing journey.
Mithil Thakore, Co-founder and CEO VelarBTC, believes that “billions in new institutional liquidity” could flow into Bitcoin as a result of the 2024 halving event and the decisions among US regulators to approve the first spot Bitcoin ETFs. Thakore also expects developments such as ordinals, BRC-20, and various layer-2 advancements to help the crypto market transform significantly through 2024 and 2025.
Nazareth Q, a crypto native and podcast host, anticipates the network remaining active post-halving, reinforcing Bitcoin’s status as a scarce, optimistic asset class, and a strong hedge against inflation. He foresees increases in institutional attention, Bitcoin’s credibility, and value.
Phil Champagne, author of “The Book of Satoshi” and “Bitcoin vs Altcoin,” has scrutinized the complexity of predicting Bitcoin’s price action, especially central bank policies. He believes the halving will exert upward pressure on Bitcoin’s price, though the broader economic context and stock market dynamics will also play significant roles in determining its value. Champagne also acknowledges technical analysts like Blockchain Backer, who, despite focusing on XRP, recognize Bitcoin’s influence in the crypto market.
The final word
In 2024, the Bitcoin community is anticipating the upcoming Bitcoin halving and the changes it may bring. Historically, halving events have led to significant surges in Bitcoin’s price, fueling speculation and excitement about its future impact.
However, it’s crucial to remember that past trends don’t guarantee future results, and the volatile nature of cryptocurrencies calls for careful research and consideration. As this fascinating event unfolds, one question remains: could the 2024 halving event trigger a new era of Bitcoin adoption globally?
