The bitcoin halving took place today, an important moment that occurs once every four years in the crypto world. As of today, the reward for bitcoin miners has been halved from 6.25 btc to 3,125 btc per block. This reduces the rate at which new bitcoins are created. The idea is that the reduction in supply will increase demand for bitcoin, which should lead to a higher price, according to basic economic principles. But what do experts say about Bitcoin’s price expectations after this halving?

In a recent interview, renowned venture capitalist Tim Draper spoke about the future of bitcoin. He suggested that the price of bitcoin could rise to $10 million in the future. Draper, known for his early investments in companies such as Skype, highlighted how bitcoin can change our daily lives. He predicts that bitcoin will become the currency of choice once you can buy everything with it: from food and clothing to your taxes. “If you can pay for your food, clothing, shelter and taxes all with bitcoin, then the choice is easy. You won’t want to use any other currency anymore,” Draper explains.

In the days before the bitcoin halving, demand for spot bitcoin ETFs has decreased. This trend is reflected in continued net outflows from these funds over the last five days, with a total of about $319 million in outflows since April 12, according to data from Farside Investors. This is only the second time such a series of outflows has occurred, the previous time being from March 18 to 22, during which as much as $888 million was withdrawn.


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