The Next Bitcoin Halving Could Have a Greater Impact, According to CEO Caitlin Long
In a recent interview with Scott Melker, CEO of Custodia Bank, Caitlin Long shared her thoughts on the upcoming Bitcoin (BTC) halving. She agrees with a new model proposed by digital assets-focused investment firm Pantera Capital, which predicts that Bitcoin will reach $147,843 in early August 2025, around 480 days after the next expected halving event on April 16th, 2024.
Long believes that the halving will significantly affect the top cryptocurrency. She explains that when the halving occurs, miners will shut off their machines as they become unprofitable. This event is well-known and anticipated in the finance industry, and it is not something that traders can predict ahead of time.
Furthermore, Long points out that the halving may have an even greater impact this time around. She mentions that some miners have recently plugged in outdated machines, which will likely be shut off after the halving. Additionally, Bitcoin’s hash rate continues to grow, deviating from previous market cycles.
Hot Take: The Halving and Its Potential Effects on Bitcoin
The upcoming Bitcoin halving is expected to bring significant changes to the cryptocurrency market. With miners shutting off their machines and outdated equipment being replaced, the impact could be greater than in previous halving events. Caitlin Long, CEO of Custodia Bank, agrees with this sentiment and believes that the halving is a well-known and fundamental event in finance. As Bitcoin’s hash rate continues to grow, it adds another layer of complexity to the upcoming halving. With predictions of Bitcoin reaching $147,843 in the future, it’s clear that the halving is a highly anticipated event that could shape the future of the top cryptocurrency.
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