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Investors in the cryptocurrency market are eagerly awaiting the event known as Bitcoin halving, although skeptics caution against expecting substantial short-term gains from speculation.

Munich – On Friday, April 19, cryptocurrency market investors were on edge in anticipation of the Bitcoin halving, a significant change in the technology that reduces the rate at which new Bitcoins are generated. “This stands as one of the biggest events in the crypto sector this year,” stated Chris Gannatti from WisdomTree, which manages exchange-traded Bitcoin funds. For crypto enthusiasts, this event, occurring roughly every four years, limits the supply of a highly sought-after commodity, thus enhancing its value. Critics, on the other hand, dismiss it as merely a technical change overhyped by speculators to temporarily boost prices.

Anticipating Volatility at the Time of Halving
“The actual moment of halving is likely to be quite unremarkable, as the event is mostly anticipated in the prices,” noted Timo Emden from Emden Research. He advised that market participants should prepare for increased volatility in the coming weeks. The ongoing conflict in the Middle East also remains a risk factor.

Just a few hours before the expected halving, the world’s largest digital currency was up 1.5% at $64,459 on Friday morning. Fears of an escalation in the Middle East had briefly pushed Bitcoin below the psychologically important mark of $60,000 during the night. According to insiders, Israel launched an attack on Iran, just days after a drone strike by Iran on Israel.

Markets in Defensive Mode
“I believe the markets are currently in a defensive mode,” said Moh Siong Sim, a currency strategist at the Bank of Singapore. “Right now, we know that something has happened, but we need to understand the extent of the retaliatory actions.” Risky asset classes like cryptocurrencies continue to be held in the grip of geopolitical uncertainties, Emden explained. “Anything associated with risk tends to be avoided during such times.”