Bitcoin Halfing 2024: Under The Shadow Of Global Economic Uncertainty

The largest crypto asset is based on market cap, Bitcoin. (Photo; Doc. Almomento)

JAKARTA - Mike McGlone from Bloomberg recently provided a new perspective on the Haling Bitcoin scheduled for April 2024. Haling, a historic event that occurs once every four years and reduces Bitcoin mining prizes to half, usually triggers price spikes. However, McGlone predicted uncertainty for the year of the 2024 Halving.

Halfing Bitcoin has always been a moment that the crypto community has been waiting for. This is a time when Bitcoin mining prizes are reduced, reducing new supplies entering the market. This usually triggers price increases due to fewer offers meeting with fixed or even increasing demand.

However, McGlone feels that 2024 will be different. He argues that the current global economic conditions may weaken the positive impact of halving. In particular, lower interest rates and economic uncertainty could affect interest in risky assets such as Bitcoin.

According to McGlone, as interest rates remain high and the amount of money in circulation declines, investors tend to look for safer assets, such as government or gold bonds, than crypto assets. In his view, when the Halving Bitcoin arrives in April next year, crypto prices and other risky assets may face pressure falling.

However, McGlone's view isn't the only one. Investors and analysts have diverse opinions. For example, Larry Fink, CEO of BlackRock, the world's largest asset management company, has a different view. He considers Bitcoin as a quality asset that can compete with traditional assets such as gold or government bonds.

"The more people who run to quality assets, be it Treasury, gold, or crypto," said Fink.

So, although uncertainty may be a hallmark of Bitcoin's 2024 halving, diverse views in the crypto world and investment remain relevant. This is one of the things that makes the crypto market always attractive and challenging.