Bitcoin Price Predicted to Soar to $70K after 2024 Halving Event Cuts Supply
-
Bitcoin's price is anticipated to hit $70,000 after its next halving event in April 2024, as predicted by crypto exchange Toobit.
-
Bitcoin halving is when mining rewards are cut in half, happening every 4 years, to control supply and inflation.
-
Halving reduces the rate of new bitcoins created, making them more scarce and increasing value based on supply/demand.
-
Historically, bitcoin prices have spiked after halving events likely due to increased scarcity and steady or rising demand.
-
Toobit exchange aims to enable users to freely trade high-quality financial assets equally across the globe, with thousands of satisfied users.