The Impact of Bitcoin Halving on Altcoins and the Best Altcoins to Invest - COINTURK NEWS
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The Impact of Bitcoin Halving on Altcoins and the Best Altcoins to Invest

7:56 pm (77 days ago)
September 21, 2023

At the time of writing, BTC had dropped back to $26,500 and the rapid sell-offs following the slow rise were concerning. Considering the lack of volume, we see that the bearish market conditions for cryptocurrencies have intensified. In particular, market makers reducing sector risks have prevented sharp price movements.

Bitcoin Halving

The four-year cycles in the cryptocurrency markets are the main motivation for crypto veterans with diminishing numbers. It’s not easy, but for almost 2 years, altcoins and BTC have experienced steady declines. The recovery in early 2023 gave way to horizontal and downward price movements for BTC.

Many believe that the Bitcoin (BTC) block reward halving will trigger the bull season in the cryptocurrency markets again. This event will take place in April of next year. So, there are about 2 quarters left.

Movements in the crypto market are cyclical. Each cycle consisting of a growth phase, followed by a correction and sideways movement lasts about four years. Some say that the halving has an effect on this, but the M2 money supply chart also contains an interesting coincidence.

So far, Bitcoin has seen 3 halvings. In 2012, 2016, and 2020, and in each, the BTC price responded with growth. We saw new all-time highs 1.5 years after the block reward halving.

Which Altcoins Can Be Bought?

As Bitcoin is the flagship of the crypto market, most other cryptocurrencies follow its movements. Therefore, as the king of crypto embarks on an ATH journey, a significant portion of altcoins also follow its lead.

So which altcoins are the favorites of experts for the halving? Crypto expert Dmitry Noskov highlights XRP among altcoins. According to him, since the resolution of the lawsuit coincides with the halving, a significant portion of investors will make purchases with the same expectation, and we will see the price increase.

Gracie Chen draws attention to layer2 solutions. Many layer2 solutions that have not seen a bull season this year have entered our lives. And there is actually significant inflation here. L2 solutions that outperform their competitors can succeed in the next bull season.

Anton Nozdravchev was more cautious. Anton believes that BTC and ETH buyers can benefit from the upcoming bull period. Anton’s perspective of increasing capital in order to enter at the right time as altcoins are suppressed with the increasing BTCD while the BTC price is rising can be reasonable.

Disclaimer: The information provided in this article does not constitute investment advice. Investors should be aware of the high volatility and therefore the risks associated with cryptocurrencies and should conduct their own research in making transactions.

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    3 months önce

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