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This event, which reduces the reward for mining new blocks by half, is seen by many as a bullish signal for the cryptocurrency's value. However, Schiff's perspective offers a sobering counterpoint to the prevailing optimism., a long-time skeptic of Bitcoin and advocate for gold, warns that the halving may not necessarily lead to the much-expected price increase.
At the time of writing, Bitcoin was trading down 2.17% in the last 24 hours to $63,738 as investors took profits following the halving event.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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