Crypto Market Watch: How Will the Bitcoin Halving Event Impact Prices?

The Bitcoin halving is happening this weekend, and the market will be volatile.
Analysts are bullish on Bitcoin's long-term future, predicting a price increase in the next 6 months.
Ethereum, DeFi, and RWA tokens are expected to do well after the halving, followed by a wider market correction.

Cryptocurrency enthusiasts worldwide are eagerly awaiting the fourth Bitcoin (BTC) halving, set to occur this weekend. This significant event is expected to inject fresh volatility into the already dynamic crypto market, prompting exchanges to refine their strategies for maximum advantage.

One notable development comes from BitMEX, which has raised the stakes on its Bitcoin perpetual swap, now offering an impressive 250x leverage, a notable increase from its previous 100x limit. This underscores the importance for traders and investors to adjust their portfolios in anticipation of potential gains.

Expert Insights: What’s Next?

Despite potential short-term turbulence post-halving, renowned crypto analyst Michaël van de Poppe remains optimistic about the industry’s prospects in the coming months. With institutional investors and retail traders gearing up for this event for the past three years, anticipation is at an all-time high. Moreover, the widely-tracked stock-to-flow model predicts a doubling in Bitcoin’s price within the next six months.

Expectance:

– #Bitcoin to consolidate.
– #Altcoins bouncing in their Bitcoin pairs.
– Narrative to shift to ETH and DePIN/RWA.
– Altcoin strength from in Q2/Summer.
– Corrections in Q3.

It's going to be great, just buy the dip.
— Michaël van de Poppe (@CryptoMichNL) April 17, 2024

According to Poppe’s projections, following the halving, Bitcoin’s price is expected to hover between $61,000 and $72,000 as it absorbs increased buying pressure. This is anticipated to spark a resurgence in altcoins against the backdrop of Bitcoin’s strength.

Ethereum and Beyond

Poppe suggests that Ethereum, along with emerging players like the Decentralized Physical Infrastructure Network (DePIN) and real-world asset (RWA) tokenization, will lead the charge in the second quarter. Looking ahead to the third quarter, a broader market correction is expected as a precursor to a monumental rally towards new all-time highs across various cryptocurrencies.

Also Check Out: How Will Bitcoin Halving Impact Top Cryptos