It's been 100 days since the fourth Bitcoin halving event, and both BTC and the wider cryptocurrency market have made notable progress, setting the stage for a new growth phase.
At 7:10 AM on April 20, 2024, Bitcoin completed its fourth halving at block 840,000, reducing block rewards from 6.25 BTC to 3.125 BTC. Since then, Bitcoin's price has increased by about 10%, currently trading around $69,500.
Historically, Bitcoin's price sees significant increases 400-500 days post-halving. Thus, while the short-term price impact is modest, there's optimism for future surges.
Crypto ETFs have gained traction, reflecting growing investor confidence. Bitcoin and Ethereum spot ETFs have been introduced, and there's anticipation for ETFs for other coins like Solana. These ETFs provide traditional investors easier access to cryptocurrencies with reduced risks.
Politicians have also shown increasing support for crypto, especially with the 2024 U.S. presidential election heating up. Donald Trump's campaign has highlighted crypto to attract supporters, and his pro-crypto statements at the Bitcoin 2024 Conference have boosted market confidence. Other politicians, like Robert F. Kennedy Jr. and Senator Cynthia Lummis, have proposed integrating Bitcoin into national reserves, further emphasizing crypto's growing political relevance.
