JAKARTA - Halfing Bitcoin is one of the most anticipated events. Kris Marszalek, CEO of crypto trading platform Crypto.com, gave his views on this phenomenon in an interview with Bloomberg.
With scheduled to take place in the near future, Marszalek shared its insights into the possible impact on the price of Bitcoin and how the bitcoin spot ETF could play a role in determining the future of this digital currency.
Marszalek describes the current period as a consolidation phase, similar to previous cycles in Bitcoin history. I expect pretty good action in the six months after Halving Bitcoin," he said. Halving, which is expected to reduce block prizes for miners, is expected to affect the number of Bitcoins circulating in the market.
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According to Marszalek, demand for Bitcoin through the spot bitcoin ETF can "improve the situation as a whole" because there will be fewer Bitcoins sold by miners after halving.
It won't make any difference in a day or two or a week. But within six months, it makes a substantial difference, he added. He also stressed that the ETF spot bitcoin definitely' changes the structure of the crypto market, with the flow of new funds that were previously absent.
Marszalek suggests that Bitcoin is an asset that must be held for a very long period of time, measured in years or even even decades. I strongly advise everyone who has this kind of timeframe to add it to their portfolio," he said. It closes with optimism, I personally expect outstanding performance in the next six months
With Bitcoin getting closer, analysts and market observers have made various predictions. Some believe that haaving will reduce miners' income by 50% in Bitcoin terms, forcing them to adapt to the block's drop in prizes. Meanwhile, Hong Kong's decision to provide conditional approval for the bitcoin spot ETF and ether suggests a shift in institutional acceptance of crypto.
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