Bitcoin's deep dip before dawn 🌅

On the eve of the Bitcoin halving, the price of BTC took a dive.

Author

Ryan Ozawa
April 19, 2024

Welcome to the Daily Dispatch from Decrypt. This is Ryan in Honolulu bringing you your daily news dose. Catch the latest from across our Hubs here!

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📝 What you need to know

Fewer than seven hours remain before the Bitcoin halving, but the price of BTC decided to take a dive to ensure one more round of headlines before the occasion. It fell as low as $59,573 on Coinbase — before rebounding above $65,000 a few hours later.

Price volatility is a signature of crypto, even its top coin. But is the bull run already over? Experts are, unsurprisingly, split. Also to be determined is whether the Bitcoin halving will help with its controversial environmental record.

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💬 Quote of the Day

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“People rush into the asset that they can remit payments in, and that's the U.S. dollar, so I think you saw a lot of panic selling.”

—Sean Farrell, Fundstrat Global Advisors

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📚 Dive Deeper

🎓LEARN: Bitcoin Halving 101: What it Means for Miners and Investors

The Bitcoin halving takes place every four years, cutting the block reward received by Bitcoin miners in half. Find out why and how the halving takes place, and what effect it will have on Bitcoin miners and investors.

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