What to Anticipate from the Crypto Market This Weekend as Bitcoin Halving Event Occurs Today

The highly anticipated fourth halving of Bitcoin (BTC) is set to occur this weekend, causing increased volatility in the crypto market. In response to this significant event, several cryptocurrency exchanges are adjusting their services to capitalize on the Bitcoin halving.

BitMEX, for example, has recently increased its Bitcoin perpetual swap leverage from 100x to 250x. Therefore, it is advisable for crypto traders and investors to position their portfolios strategically to maximize gains.

Following the Bitcoin halving, the cryptocurrency market may experience some short-term weaknesses. However, respected crypto analyst Michaël van de Poppe remains confident that the industry will maintain a bullish outlook in the coming months. Institutional investors and retail traders have been preparing for this phase for the past three years, and their preparations will soon come to fruition. Additionally, the well-known stock-to-flow model predicts a doubling of the Bitcoin price within the next six months.

Poppe has outlined several narratives to focus on in the future. Firstly, he expects Bitcoin to consolidate within the range of $61k to $72k after the halving. He also predicts that altcoins will experience a rebound in their Bitcoin pairs as buying pressure on Bitcoin increases. Poppe believes that Ethereum, the Decentralized Physical Infrastructure Network (DePIN), and real-world asset (RWA) tokenization will take the lead in the second quarter. In the third quarter, a general market correction is expected in preparation for an exponential rally to new all-time highs.

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Bitcoin
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