Get ready for the Bitcoin Halving Countdown, 240 more days Block Reward will be halved

This Bitcoin price movement has been pretty dazzling lately. This increase was driven by Bitcoin Spot ETF proposals from a number of large companies, namely Blackrock, Fidelity, Wisdomtree, Valkyrie, and Invesco.

Tokocrypto External Trader, Fyqieh Fachrur said, the steps taken by this large company could provide positive sentiment in the crypto industry going forward.

“This news will have a positive impact in the coming months and could be one of the key sentiments in preparation for next year’s Bitcoin halving,” said Fyqieh in a press release, quoted on Sunday (2/7/2023).

On Wednesday, 21 June 2023, the crypto market responded positively to Blackrock’s submission, an asset management company with a total managed fund of more than USD 10 trillion or the equivalent of Rp. 150,403 trillion. The FOMO (Fear of Missing Out) that emerged among retail investors triggered them to get in early before this Spot Bitcoin ETF proposal was approved and implemented.

Although this proposal has not yet received approval from the SEC, Blackrock has received very high vote support, namely 575 votes out of a total of 576 votes. This information had a positive impact on the crypto asset market.

Future Bitcoin Price Prospects

Regarding the prospect of the Bitcoin price until the end of semester 1 and the end of 2023, Fyqieh estimates that Bitcoin will reach the level of USD 33,000 or around IDR 493 million at the end of this semester.

Meanwhile, on a weekly and monthly basis, Bitcoin is expected to continue to experience a bullish trend. However, to confirm a price increase towards USD 33,000, Bitcoin needs to manage to break through the resistance level at USD 31,000 or IDR 466.2 million and close above it on a daily basis.