Bored Bitcoin Faithful Rekindle ‘Halving’ Hype
- The next halving is expected in 2024, when miner rewards drop
- Traders are looking for a catalyst with prices range bound
This article is for subscribers only.
Trading has gotten so tedious in the cryptocurrency world that advocates are resorting to touting a scheduled reduction in the amount of Bitcoins awarded to miners that is set to take place in about 18 months as a potential catalyst.
Bitcoin, the largest cryptocurrency, fell about 1% to $19,187 as of 2:58 p.m. in New York. It has been locked in a narrow range of around $20,000 since prices collapsed in June. Even so, analysts from ByteTree Research say “it is time to sit up and pay attention,” as the next halving is expected to happen in 2024.