Bitcoin Halving Might Be Giving False Hopes To Traders Who Expect To Get Rich Soon

Bitcoin halving is just around the corner, and you can check out the countdown on CoinMarketCap.

At the moment of writing this article, Bitcoin is trading in the green and the most important coin in the market is currently priced at $9,275.95.

Bitcoin halving may give false hoped to those who want to get rich soon

The online publication the Daily Hodl said that there’s a crypto whale who often ranks at the top of the Bitfinex leaderboard, and they just said that Bitcoin halving might disappoint traders who are looking to get rich soon.

Joe007 said that BTC is overhyped as the halving approaches. He believes that the halving event which is posied to happen ina few days will turn out disappointing for those who want to get rich overnight.

It’s also important to mention the fact that Joe also mentioned Tether Limited’s increasing printing of USDT.

He says it’s because savvy traders are selling their BTC for the leading stablecoin. He believes that this left Tether with a need to mint more tokens.

Bitcoin buying frenzy

On the other hand, it’s been just revealed that we’re in the middle of a Bitcoin buying frenzy these days as hedge funds are accumulating.

Earlier, we reported that Michael Novogratz said that he is sticking with BTC as the hedge funds are moving into the crypto space.

He said that we have massive economic uncertainty these days, but as the halving is getting nearer and the markets are reacting to extreme measures.


Coins Mentioned

USDT

Tether

BTC

Bitcoin

Companies Mentioned

CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

1742 Articles

Top Exchanges
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CEX.IO

3

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Coinbase

2

Website

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Binance

1

Website

Top Casinos
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7bitcasino

4.20

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BitStarz

4.93

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FortuneJack

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Top Sportsbook
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1xBit

4.03

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Nitrogen Sports

4.73

Website

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SportBet.io

4.60

Website

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