The crypto ecosystem is gearing up for the so-called Bitcoin halving, which is scheduled to occur around April 20. The halving, which happens every four years, is expected to push the price of Bitcoin even higher; historically, these have led to price appreciation, and experts said this year should be no exception.
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But whether Bitcoin’s rise and the hype around the halving will translate into a sustained surge for smaller coins remains to be seen, experts said.
Bitcoin passed its previous all-time high of $69,044.77 last month. Although the asset is now experiencing huge volatility ahead of the halving, many experts anticipate it to reach $100,000 this year.
As of April 8, Bitcoin was hovering around $72,000, up a whopping 156% in the past year.
Meanwhile, some altcoins also have benefited from Bitcoin’s recent resurgence — mostly due to the approval by the Securities and Exchange Commission (SEC) of spot Bitcoin exchange-traded funds, which has attracted enormous interest and has given institutional recognition to the asset.
Bitcoin ETFs and Meme Coins
As of March 1, the 10 spot Bitcoin ETFs in the U.S. had more than $48 billion in assets under management, according to Digital Asset Research.
As an April 4 Messari report noted, the approval of Bitcoin ETFs has propelled BTC back to unprecedented levels, “igniting a meme coin resurgence that has outperformed many sectors.”
“This revival shines a light on both legacy tokens like DOGE and SHIB, which have seen gains over 100%, and newer tokens like PEPE and WIF, soaring over 600%,” according to the report. “With most meme tokens trading strictly on chain, data analytics is crucial for spotting trends and momentum, helping investors differentiate between tokens with lasting potential and those destined for fleeting popularity.”
Yet, many experts argued that as the halving is inherent to Bitcoin, its impact pre-event on other digital assets might not be notable.
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Stick to the Basics
“I believe in keeping things simple and staying within your circle of competence,” said Vijay Marolia, co-founder of The Cash Square….
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