The last few weeks in crypto have been nothing short of interesting and intense; Bitcoin’s highly anticipated halving took place while BlockDAG Network’s updates to its infrastructure and ecosystem have seen analysts predict the BDAG coin will be worth $10 in 2025. Let’s take an in-depth look at what’s going on in crypto post Bitcoin-halving.
The Bitcoin Halving
Bitcoin's highly anticipated, once-in-four-years halving event has just recently occurred and it marks a significant milestone in the cryptocurrency's life-cycle. The halving events involve a 50% reduction in the rewards earned by Bitcoin miners, effectively cutting the number of new Bitcoins entering the market.
The ultimate goal of this mechanism is to limit the total supply of Bitcoin to 21 million by the year 2140. With only 450 Bitcoin now being created each day, this event underscores Bitcoin's deflationary nature and its potential to become a scarce digital asset over time.
Having been integrated into Bitcoin's code since its inception, previous halvings occurred in 2012, 2016, and 2020. Despite the widespread anticipation surrounding these events, the cryptocurrency market remained relatively stable this time, with Bitcoin's price hovering around 63,747 USD (or 51,531 GBP). Many analysts believe that the market had already factored in the expected impact of the halving, which contributed to the price stability observed for now.
However, history has shown that previous halving events have often led to significant price increases in the long run. For example, following the halving in May 2020, Bitcoin's price surged from around $8,600 to over $56,000 within a year.
While some experts caution against relying solely on historical data to predict future price movements, citing the multitude of factors that influence market dynamics, the overall sentiment remains optimistic about Bitcoin's potential for growth with some speculating BTC could come to be worth up to $150,000 by 2025.
The Bitcoin-Effect and its Influence on BlockDAG Network
The "Bitcoin-effect" is a phenomenon that has reverberated throughout the digital asset market since the inception of Bitcoin. As the first and most widely recognized cryptocurrency, Bitcoin's trajectory has served as a bellwether for the broader market, often influencing the sentiment and behaviour of investors and traders alike. With a track record of volatility and resilience, Bitcoin's historical data provides valuable insights into market trends and investor sentiment.
Following its recent halving event, Bitcoin's influence on the market is once again under scrutiny. Historically, halving events have led to significant price increases in the long term,
This news story relied on a press release distributed by BlockchainWire. Blockchain Registration, Verification & Enhancement provided by NewsRamp™. The source URL for this press release is The Bitcoin-Effect: How the Post-Halving Bitcoin Effect Can Take BlockDAG Network to $10 in 2025.