Bitcoin gained momentum after the Fed cut interest rates and reached a maximum Reproduction / Internet
Published 04/16/2024 17:37
Bitcoin fell this Tuesday, 16th, in a context of geopolitical caution and amid considerations about the effects that could still materialize in the so-called “halving” that should take place this month. Ethereum, in turn, fluctuated close to stability.
At 4:30 pm (BrasÃlia time), bitcoin fell 0.87%, to US$ 62,979.23 (R$ 330,677.15), while ethereum rose 0.02%, to US$ 3,072.02 (R$ 16,128 ,10), according to Binance.
Caution about geopolitical tensions limited cryptocurrencies. As a result, bitcoin continued with a correction of around 15% since it reached an all-time high in March. It even lost the US$60,000 mark over the weekend, with greater tension in the face of the attack by Iran and Israel and its potential consequences, but recovered some of its momentum on Monday.
Now, there is expectation this month for “halving”, the process according to which there is a 50% cut in the amount received by cryptocurrency miners. This strategy helps control the supply of bitcoins, which has a maximum limit of 21 million bitcoins. The halving should take place between April 18th and 21st. It happens every 210,000 bitcoins mined, which takes about four years. Historically, the price of the cryptocurrency has risen after these episodes, as the creation of new bitcoins slows. The question is how much of this potential movement has already been priced in by the markets, in the current environment.
* With information from Dow Jones Newswires
