Bitcoin traders are currently looking more toward geopolitical issues to assess the trajectory of Bitcoin prices than the halving event itself. According to Reuters, though industry insiders said on Monday that the cryptocurrency’s fortunes were more directly related to broader financial market emotions and geopolitics, the so-called halving event of Bitcoin has had little effect on its price thus far.
Geopolitical Issues to be on Crypto Traders List
To reduce the rate at which new bitcoins are created, the “halving” of Bitcoin occurs every four years to keep the supply and demand in balance. Usually after the halving, the prices of the OG-crypto currency tend to soar. However, this time the impact of the geopolitical situation is greater than the effect of the halving.
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Bitcoin Traders Gauge Withdrawals
There were significant withdrawals from both Bitcoin and Ethereum last week, totaling $226 million. The l
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