With just over three hours left until the halving, there are 27 more blocks to be mined in the cryptocurrency world. This process is being watched eagerly, with many turning their attention to analysts for insights. One prominent market analyst made some notable remarks on the topic.
Analyst Michaël van de Poppe’s Pre-Halving Comments on Bitcoin
Well-known for his cryptocurrency insights, analyst Michael van de Poppe mentioned that the Bitcoin halving is drawing near and suggested that relief for Bitcoin might also be close.
To explain what Bitcoin halving is, it’s a pre-programmed event by Satoshi Nakamoto that occurs approximately every four years, aiming to cut Bitcoin inflation in half and reduce the mining rewards by the same proportion.
Analysts and experts are making predictions one after another as the next Bitcoin halving is expected to happen in the coming hours.
Famous analyst Michaël van de Poppe told his thousands of followers on social media platform X that Bitcoin is presenting a favorable outlook to tackle the $61,000 price region.
It’s quite likely that Bitcoin will make a significant jump from this region as the halving approaches and narratives change, gradually reducing the excitement around Bitcoin.
The analyst notes that, as of writing, Bitcoin has managed to recover and is trading above the $64,000 region again, according to plan.
Bitcoin halving day! Good response from the low range. Everything looks great.
At the time of writing, Bitcoin has seen a 0.4% increase over the last 24 hours, trading at $64,100.
Van de Poppe and His Altcoin Commentary
Changing his view on altcoins, Van de Poppe suggested that the long bear market might have already ended.
The altcoin bear market has been ongoing for three years. The bottom could have been last week.
Particularly focusing on one of the most talked-about altcoins in the blockchain world, Chainlink, the analyst highlights that LINK is well-positioned in transactions against BTC.
Chainlink is a significant value to look for in this BTC valuation.
At the time of writing, LINK had experienced a 1.6% increase over the last 24 hours, trading at 0.00022 BTC ($13.78).
