The CEO of Marathon says that the upcoming halving event of Bitcoin has already affected its price to some extent.

The CEO of the biggest cryptocurrency miner in the US says that the upcoming “halving” event for Bitcoin might already be partly considered in the market.

During an interview on Bloomberg TV, Marathon CEO Fred Thiel talked about how the approval of ETFs could affect the price of Bitcoin.

“I believe that the approval of the ETF has been very successful in bringing money into the market. It has also caused the price of the cryptocurrency to go up sooner than expected, usually within three to six months after the halving event. ”

“So I think we are starting to see some of that already, and that has created some of the demand. ”

The Bitcoin Halving won’t affect the price much.

Marathon is a company in Florida that has mining facilities in different states, including Texas.

Bitcoin mining is when powerful computers confirm transactions on a digital ledger and earn tokens as a reward. It uses a lot of energy.

The halving event in late April will cut the reward for miners in half, which will affect the main way they make money.

Thiel said that the halving will lower the amount of new Bitcoin made each day by about 450. This might cause prices to go up a little.

“But as miners, we are very excited to go into a halving, where for once prices have not declined prior to the halving; rather, prices have gone up, so everybody is obviously maximizing to that.”

 

Bitcoin went up by over 60% this year because lots of people want to buy it through US exchange-traded funds. This made people feel hopeful and excited about Bitcoin.

The top digital currency went down by 4% on Tuesday, which was its first drop in four days of trading. Its price was $68,773.

The digital asset’s price went down by about 7% from its highest point of $73,797 on March 14th.

Thiel thought that Marathon would need the price of Bitcoin to reach around $46,000 in order to make a profit after the halving.

The price of Bitcoin could go down after the halving.

Billionaire Arthur Hayes is being careful about the upcoming Bitcoin halving and how it will affect the price of Bitcoin.

Many experts think that the price of Bitcoin will go up after the halving event. But Hayes thinks that the price could actually go down before and after the event.

Although billionaire Arthur Hayes is worried, other industry leaders like Ripple CEO Brad Garlinghouse are still hopeful.

Garlinghouse thinks that the overall value of cryptocurrencies will grow by 100% this year because of spot ETFs and Bitcoin halving.

He thinks that bringing in big money from investment funds will help make things better.

I’m very hopeful. I believe that big trends like ETFs are now attracting real institutional investors for the first time. This was said in an interview with CNBC on April 7th.

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