Crypto:
30205
Bitcoin:
$68.156
% 1.32
BTC Dominance:
%54.1
% 0.32
Market Cap:
$2.48 T
% 1.89
Fear & Greed:
72 / 100
Bitcoin:
$ 68.156
BTC Dominance:
% 54.1
Market Cap:
$2.48 T

Bitcoin Price May Dip Before Halving, But Long-Term Bullish Outlook – Crypto.com CEO

Kris Marszalek Bitcoin Halving

Bitcoin selling may increase as the day of the so-called bitcoin halving approaches, but the event is expected to boost the price of the largest digital asset in the long run, according to the CEO of the Crypto.com exchange.

The bitcoin halving limits the new supply of Bitcoin and is expected around April 20. Historically, it has been an advantage for prices, though a recurrence seems unlikely given Bitcoin’s record high in mid-March.

“As we approach this date, there might be some selling coming up” owing to the buy-the-rumor and sell-the-news trade, Kris Marszalek, CEO of Crypto.com, mentioned this in an interview with Bloomberg Television on Tuesday. Over the long term, the bitcoin halving will make a “substantial difference” and is a “positive development for the market,” he stated.

Bitcoin slid 1.5% to $62,180. Inflows into three-month-old spot-Bitcoin exchange-traded funds in the United States helped the token hit a record high of $73,798 last month. “I expect pretty decent action within the six months following the Bitcoin halving,” Marszalek said in a statement.

The halving would reduce the quantity of Bitcoin that so-called miners can receive daily for validating transactions to 450 from 900. Miners compete for a payout by solving mathematical riddles on ultrafast computers. On the prognosis for Crypto.com, Marszalek stated that the digital-asset exchange is hiring carefully and has “a couple of hundred” opportunities. Marszalek defined the platform’s expansion as a long-term strategy. It will start delivering services to South Korean retail clients later this month. Crypto.com is one of the largest digital asset exchanges. According to CoinGecko, trading activity on the platform has exceeded $1.5 billion in the last 24 hours.

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