Bitcoin Price decline as Bitcoin halving Approaches - Economist

Investors in "Cryptocurrencies" suffered from the significant decline that hit the "Bitcoin" currency in trading on Friday, April 12, 2024, as the cryptocurrency Bitcoin witnessed a noticeable decline after inflation data prompted expectations to further delay the US interest rate cut, in continuation of the state of volatility. Which it has been going through since reaching a new record high last month.

The cryptocurrency Bitcoin recorded a decrease during the last 24-hour transactions of $3,110, or 4.42%, to the level of $67,234, and in the context of the second largest currency, "Ethereum" its price fell by $267, or 7.61%, during the last 24 hours, to the level of $3,244.

As the middle of April approaches, the Bitcoin currency is awaiting the halving process, which occurs approximately every 4 years, which means reducing the "Bitcoin Mining" reward by half, which leads to a lack of supply, which may push prices to rise, according to analysts’ expectations.

The price of Bitcoin reached a record level last month around the level of 73 thousand dollars, with some expecting a further rise during the current year, but since then it has witnessed fluctuations between the level of 60 and 72 thousand dollars.