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Bitcoin About to Have Its Most Impactful Halving, Bitwise CEO Says

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Bitcoin About to Have Its Most Impactful Halving, Bitwise CEO Says

Anticipation is brewing for what could be the most significant halving event yet, according to a recent statement by Bitwise CEO Hunter Horsley.

In his post on the X social media network, Horsley compared the impending halving to its predecessor in 2020. “The last Bitcoin halving in 2020 occurred when Bitcoin was at approximately $9,000,” he noted. “This halving with Bitcoin hovering around $70,000, the reduction in supply will be over three times greater in dollar terms.”


The fourth Bitcoin halving, which is slated to occur on Apr. 19, is expected to be a major bullish catalyst.

Will the Fed drive another Bitcoin rally?

The significance of this halving should also be examined in the context of other economic factors. On the cusp of the previous halving, the Federal Reserve cut interest rates to zero and kicked off a massive QE program.

Hence, some are wondering whether demand for newly launched Bitcoin ETFs will be as bullish for Bitcoin as the Fed’s sweeping aid. According to Horsley, he believes that similar dynamics could be in play this time around now that the Federal Reserve is weighing rate cuts.

How will the halving impact miners?

According to a recently published report by Hashrate Index, if the Bitcoin price maintains its current level or experiences moderate growth, an estimated 3-7% of Bitcoin’s hashrate may go offline post-halving. This, of course, will cause corresponding adjustments in mining difficulty.

However, a significant drop in Bitcoin’s price could see a more substantial portion of the hashrate coming offline.

Operational margins are likely to remain thin post-halving. Hence, miners will have to focus on improving efficiency while hedging against volatility and operational risks.