Crypto.com CEO Kris Marszalek foresees the upcoming Bitcoin halving event potentially triggering short-term selling volatility.
However, he remains upbeat about its long-term implications, drawing insights from historical BTC price movements following similar network updates.
In a recent interview with Bloomberg, Marszalek underscored the historical trend of price surges post-halving events but acknowledged the uncertainty stemming from Bitcoin’s recent record highs.
In March, Bitcoin reached a new all-time high, hitting $73,750 (according to CoinMarketCap data), marking the first instance of such a milestone preceding the halving event.
While the possibility of short-term selling cannot be discounted as the fourth halving approaches, the CEO of Crypto.com asserts that it will ultimately yield positive outcomes for the market in the long haul. He anticipates significant market activity within the six months following the Bitcoin halving.
CoinGecko data reveals that Bitcoin has historically surged by an average of 3,230% after each halving event. Currently, Bitcoin is trading at $63,132, reflecting a 14% decrease from its March peak. The fourth halving, scheduled for April 20, will halve miners’ daily rewards from 6.25 BTC to 3.125 BTC, impacting mining profitability.
Various figures within the Kenyan crypto industry hold divergent opinions on the halving’s effects. Tezos co-founder Arthur Breitman views it as a “reduction in security budget,” suggesting potential benefits in addressing overpayment for security.
On the other hand, Arthur Hayes, former head of BitMEX, 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 factored into prices, citing successful spot exchange-traded fund (ETF) approvals.
