Many analysts are looking at how the cryptocurrency’s inflation rate will compare to gold’s after the halving, expected on April 19.
With the Bitcoin (BTC) halving expected to occur in the next four days, many analysts have suggested that the event could affect the cryptocurrency’s status as a store of value.
At the time of publication, roughly 630 blocks are left to mine before the Bitcoin halving occurs, meaning the monumental event in the crypto space will happen around April 19. In March, the BTC price reached an all-time high of more than $73,000 after the United States Securities and Exchange Commission approved the listing and trading of spot Bitcoin exchange-traded funds on exchanges in January, with the crypto asset continued to show volatility in its price.
Many crypto users and financial analysts claim that Bitcoin could be an effective hedge against inflation as countries’ central banks, including the U.S. Federal Reserve, devalue fiat currency by printing money. In contrast, there is a fixed supply of 21 million BTC, roughly 19.7 million of which have already been mined.
