The post Bitcoin Bull Run In 100 Days ! Glassnode Predicts Massive BTC Price Rally Ahead of Having Event appeared first on Coinpedia Fintech News

Glassnode, a prominent data provider, has made a significant revelation, narrowing down the anticipated date for Bitcoin’s next halving event. Before that let’s see the present scenario; The recent approval of spot Bitcoin ETFs by the U.S. SEC, coupled with the imminent BTC halving event, has heightened expectations and speculation about a potential Bitcoin rally in the crypto market for a very long time.

Unfortunately, the approval of ETFs initially triggered a notable surge in Bitcoin’s price, reaching an impressive $49,000. However, this rally was short-lived, and the price retraced to approximately $42,000, underscoring the volatility in the crypto space.

BTC’s Calmness Continues

Bitcoin’s current price at $42,476, representing a 0.46% decrease in the last 24 hours and a 9.56% decline over the past week, however, analysts remain optimistic. The 24-hour trading volume has also decreased by 15.69%, currently standing at $20,397,236,945. But if these recent fluctuations shaking your Bitcoin belief hold on, Glassnode has some hard facts to prove why Bitcoin will rally ahead of the halving event which is just 100 days away.

Glassnode’s Halving Prediction Says Bitcoin Rally in 100 Days

Now, attention is turning towards the upcoming Bitcoin halving event, a significant occurrence that takes place approximately every four years. Glassnode, a prominent analytics firm, has added fuel to the excitement by providing an estimate for the Bitcoin halving date. The event is expected to occur at block height 840,000, but the exact date remains uncertain due to the inherent variability and probabilistic nature of mining blocks.

Based on the current average block interval, Glassnode’s best estimate places the Bitcoin halving roughly 100 days away, injecting a sense of anticipation into the crypto community. The Bitcoin halving events occur every 210,000 blocks, marking a key aspect of Bitcoin’s gradual, de-inflationary approach toward its ultimate capped supply of 21 million coins.

Historically, Possible?

During a halving event, the reward for miners is halved, reducing it from 6.25 BTC to 3.125 BTC per block. Historically, the Bitcoin halving event is always connected with price surges, as the reduced mining rewards create a de-inflationary pressure on the digital currency. Somehow, this mechanism aligns with Bitcoin’s gradual, de-inflationary approach toward its ultimate capped supply and contributes to an increased value over time, assuming the demand for Bitcoin continues to grow.

Since past halvings have coincided with remarkable price rallies, analysts are fostering the belief that a similar pattern might emerge this time.