Halving bitcoin in 9 days – what happens to cryptocurrencies?

Bitcoin has been in the price range between $65 and $67 thousand for the past few weeks. However, it finally managed to get out of this pattern. Moreover, the asset is gradually leaving the sideways trend and managed to rise in price to $70 thousand.

The reason for this growth was probably the approaching halving. There are only 10 days left before the reward for BTC mining will be cut in half. Because of this, the excitement around the token is increasing already today. All because market participants expect a price increase, which, as a rule, follows this reduction.

At the same time, not only bitcoin depends on halving. If it significantly increases in price, then other coins will follow.

Meme cryptocurrencies are in trend

In general, the market is now in a general upswing, or bullish trend. This is not least due to halving and Doge Day. These two events take place around the same time – April 19 and 20. Therefore, experts suggest that this month will be a key month in the development of digital assets.

This is especially noticeable in the niche of meme tokens. Today, Solana-based assets are in high demand. For example, Slothana – over $10 million on the presale. Investors are also buying Smog coins – it rose in price by 163% during the year due to a large-scale airdrop program. Another asset that is attracting investors’ attention is SHIB. It became more expensive by 8% over the week.

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Another meme token that may grow after bitcoin halving and “DOGE Day” appeared on the market – Dogeverse. Pre-sale of the coin started on April 8, but already in 2 days the project has raised over $350,000. It is not just inspired by memes about Doge, but is a link between 6 blockchains. These include Solana, Ethereum, BNB Smart Chain, Polygon, Avalanche and Base.

Now the first stage of the presale is in full swing, which will end when the investment amount exceeds $870 thousand. Until then, you can buy the asset for $0.00029.

The developers have allocated 15% of all coins for the presale, and 10% for staking. At the same time, the latter implies systematic payments of rewards for two years.

At the time of writing, $DOGEVERSE is at the first stage of presale. A total of 16 of them are planned, and before the release on exchanges, the cost of meme-coin will rise to $0.000305.

Altcoins are starting to show growth

That said, meme-coins aren’t the only type of coins that have started to rise in value this spring. Various altcoins have also been affected by the change. They rise in price slightly, but steadily. For example, Ethereum became more expensive by almost 10%, and BNB – by 5%. XRP is also noticeably different now – it added 7.43% during the week. However, investors and experts pay special attention to the rate of TON.

The price of this asset reached $6.74 on the background of the latest news. First, the team of TON Society reported about joint work with HumanCode on a special technology. It will confirm the user’s identity by his palm print inside the Telegram messenger. Secondly, the popularity of the asset was strongly influenced by the developers’ announcement of a large distribution of additional tokens. In total, the community will receive 1 million TON worth almost $6 million, and the payments will take place over the next 5 years.

Author: Saifedean Ammous, an expert in cryptocurrency economics.