Should You Buy Bitcoin While It's Below $70,000?
Ever since the Securities and Exchange Commission (SEC) approved some spot Bitcoin (CRYPTO: BTC) exchange-traded funds (ETFs), cryptocurrency-related news items have shown up on the front page of the financial press and even the nonfinancial press. Crypto veterans might find it amusing to see pundits suddenly using geek-speak and debating the expected impact of the imminent Bitcoin halving event.
While the halving can't be disregarded as a nonfactor, it shouldn't be viewed as the be-all and end-all of Bitcoin-related events. And with the Bitcoin price knocking on $70,000's door but then pulling back, there are other considerations -- including the musings of a central bank that's not necessarily crypto-friendly and that will remain meaningful for years to come.
Just to recap, the halving is an event in which the reward for mining Bitcoin is reduced by 50%. There's an upcoming halving event, estimated to occur this Saturday or so, wherein miners' reward for verifying transactions on the Bitcoin blockchain will be halved from 6.25 coins to 3.125.
Source Fool.com
