Why Bitcoin halving remains an important factor for BTC prices

NYDIG said BTC’s Q3 was not surprising because of the rising concerns about the economic downturn and rising interest rates. But the halving potential, like previous cycles, remains potent.holders considered the decision on the ETF applications as the possible catalyst that could shoot the king coin to parabolic price levels. However, that has not been the situation. This is because the regulators involved have chosen to delay the applications until they deem fit.

Regardless of the current events, the asset management company noted that next year’s Bitcoin halving is still the major facet that could influence BTC’s price action.By April 2024, the halving will bring down the block reward from 6.25 BTC to 3.125 BTC at exactly 840,000 block. According to NYDIG, the halving remains a“By repeatedly halving the supply function, Bitcoin will eventually reach a point in 2140 where it can no longer be divided in half.

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