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The head of Binance highlighted the upcoming halving

The Bitcoin halving expected on April 20 will take place against the backdrop of significant events in the cryptocurrency ecosystem. About it The Block said Binance CEO Richard Teng.

The top manager noted that historically digital gold rose in price for six months after each halving of rewards for miners, but the dynamics depend on many factors.

“Beyond the ETF endorsement, which has spurred institutional interest and participation, it is important to highlight the boom in L2 and DeFi activity on the Bitcoin network, fueled by the popularity of the Ordinals protocol and ‘inscriptions,’” he added.

Teng emphasized that opportunities for further growth depend on a number of factors.

“Despite the optimistic outlook, it is important that investors […] controlled their expectations. Immediate price shifts due to halving are not justified. Its fundamental significance will be reflected in longer-term trends in value, liquidity, adoption, and acceptance of cryptocurrencies as an asset class,” he warned.

Earlier, JPMorgan analysts allowed Bitcoin to fall after halving rewards for miners.

Coinify CEO Rikke Staer predicted that the price dynamics of digital gold after halving will correspond to the principle of “buy on rumors, sell on the facts.”

Source: Cryptocurrency

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