As the anticipation for Bitcoin’s next halving in 2024 continues to build, some cryptocurrency experts are advising investors to “sell the news” before the BTC price reaches an all-time high. The halving, which is a programmed event that reduces the rewards for mining Bitcoin by half, is expected to push prices even higher as it has historically. However, selling beforehand might be advantageous for investors as the price typically drops after the initial spike.
The previous Bitcoin halving in 2020 saw a significant price increase, but was followed by a substantial decline. Consequently, investors who sold their Bitcoin before the peak benefitted the most. On that note, it’s important to remember that while the crypto market is highly volatile and unpredictable, historical patterns may offer some insight into future trends. Therefore, investors should keep a close eye on the market as the 2024 halving approaches.
