Bitcoin Shows Its Strength After the “Having Event,” Poised for Further Growth Over the past weekend, Bitcoin experienced a remarkable surge, climbing by 5% and reaching a value of $66,373 per coin.

This surge was fueled by the successful conclusion of its first “having event” since 2020.

A “having event” occurs every four years, during which the supply of Bitcoin is reduced by half.

This reduction in supply, combined with a decrease in incentives for miners and increased transaction fees, has historically driven up Bitcoin’s price.

Rock Peers, a renowned early adopter and Chair of the Bitcoin Foundation, shared his bullish outlook on the cryptocurrency, based on several key factors: Increased smart functionality: Bitcoin is now utilizing layer two technology, enabling the development of new applications and functionalities on its platform.

Record-high fees: During the having event, transaction fees reached unprecedented levels as investors sought to capitalize on the potential uplift in Bitcoin’s value.

Approval of Bitcoin ETFs: The recent approval of Bitcoin-based exchange-traded funds (ETFs) has brought increased legitimacy and stability to the cryptocurrency market, making it more accessible to institutional investors.

Peers believes that Bitcoin’s price could potentially exceed $100,000 or even $150,000 this year due to these positive developments.

He also suggests that it’s an opportune time for those new to Bitcoin to invest small amounts as a way to gain exposure and learn about the cryptocurrency.

The adoption of Bitcoin as legal tender in El Salvador under President Nayib Bukele has been a significant milestone in the digital currency’s history.

This decision has increased financial inclusion within the country, making it easier for people without traditional banking access to transact and manage their finances.

Overall, the recent having event and other positive developments have positioned Bitcoin for continued growth and adoption.

While there is always the potential for volatility, the fundamental strength of the cryptocurrency suggests that it has the potential to reach new price milestones in the future.

Having events can drive up Bitcoin’s price.

During having events, which occur every four years, the supply of Bitcoin is reduced by half.

This reduction in supply, combined with a decrease in incentives for miners and increased transaction fees, has historically driven up Bitcoin’s price.

Bitcoin is expanding its functionality and becoming more accessible.

Bitcoin is now utilizing layer two technology, enabling the development of new applications and functionalities on its platform.

Additionally, the recent approval of Bitcoin ETFs has brought increased legitimacy and stability to the cryptocurrency market, making it more accessible to institutional investors.

Bitcoin has the potential to reach new price milestones in the future.

The recent having event and other positive developments have positioned Bitcoin for continued growth and adoption.

While there is always the potential for volatility, the fundamental strength of the cryptocurrency suggests that it has the potential to reach new price milestones in the future.