Before the upcoming halving of mining rewards, Bitcoin may rise to $63,000, according to Matrixport
Join Our Telegram channel to stay up to date on breaking news coverage Warren Buffett, a renowned investor, reportedly remarked, “Be greedy when others are scared and fearful when others are greedy.” The battered bitcoin (BTC) could soon find relief and rally to $63,000 by March 2024, when the cryptocurrency is likely to undergo mining reward halving, a programmed code designed to slow the rate of supply expansion by 50% every four years. Perhaps now is the time to be greedy in the cryptocurrency market. According to historical statistics, Bitcoin often reaches its bottom and begins to rise 15 months before the halving Markus Thielen, head of research and strategy at crypto services provider Matrixport, which has $10 billion in assets under management, made that most recent prediction. The optimistic forecast is predicated on the idea that bitcoin’s price would continue to rise, as it did in the months before the July 2016 and April 2020 halvings. On both time...