In 2024, the Bitcoin halving event is set to take place, and it is expected to have a significant impact on the cryptocurrency market. One area that is likely to be affected is the surge in ETFs, or exchange-traded funds, related to Bitcoin. ETFs are investment funds that trade on stock exchanges and are designed to track the price of an underlying asset. With the increasing popularity and acceptance of Bitcoin, it is anticipated that more ETFs will be launched, providing investors with an alternative way to gain exposure to the cryptocurrency.
As the market dynamics shift due to the Bitcoin halving, the onchain activity and market structure are expected to undergo significant changes. The halving event occurs approximately every four years and reduces the block reward for miners by half. This reduction in supply has historically resulted in increased demand and subsequently higher prices for Bitcoin. The anticipation of this event may lead to increased buying activity and speculation, causing a surge in onchain transactions and overall market activity.
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