Bitcoin (BTC) is on the brink of a huge surge. This is largely due to the upcoming Bitcoin Halving, which is scheduled to occur next week, April 19. The halving is a significant event in the Bitcoin network where the reward for mining new blocks is halved. This in turn reduces the rate at which new bitcoins are generated. This event occurs approximately every four years and is a key feature of Bitcoin’s economic model, and why it’s remained the top cryptocurrency on the market in terms of price.
However, Bitcoin is down today in price, trading at just over $66,000 at press time. Why is BTC down, and will it rebound before the upcoming halving?. This is down from the over $71,000 level the asset was trading at in the early hours of Friday. This downturn has some investors worried, wondering why Bitcoin is dropping all of a sudden. However, most experts say that this was expected, and we can expect multiple swings in price for Bitcoin and some altcoins as the halving comes closer.
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