{"id":533193,"date":"2024-04-19T08:57:38","date_gmt":"2024-04-19T06:57:38","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=533193"},"modified":"2024-04-19T09:13:48","modified_gmt":"2024-04-19T07:13:48","slug":"bitcoin-sinks-before-halving","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/cryptocurrency\/533193-bitcoin-sinks-before-halving.html","title":{"rendered":"Bitcoin sinks before halving"},"content":{"rendered":"

Bitcoin sank as part of a wider retreat in cryptocurrencies amid a wave of caution across global markets sparked by Middle East tension.<\/p>\n

The digital asset fell more than 5% to $60,300 (R1,160,651.39) as of 10:25 a.m. Friday in Singapore.<\/p>\n

Tokens such as Ether, Solana and meme-crowd favorite Dogecoin suffered heavier drops.<\/p>\n

Unconfirmed reports of explosions in Iran, Iraq and Syria triggered a flight to traditional havens such as bonds, gold and the dollar.<\/p>\n

Speculative investments, including stocks and virtual currencies, endured deepening losses.<\/p>\n

Markets in Asia had been braced for an Israeli response to an earlier Iranian drone and missile attack and attuned to the danger of a tit-for-tat escalation.<\/p>\n

The geopolitical concerns are overshadowing the Bitcoin halving expected later Friday, which will curb new supply of the token.<\/p>\n

\"\"<\/p>\n

Halvings historically bolstered the price of the largest digital asset.<\/p>\n

This time around, Bitcoin hit a record in mid-March before the event, leading to questions about whether the putative impact has already been discounted by traders.<\/p>\n

Ongoing Israel-Iran violence could lead to a \u201cgeneral risk-off sentiment across crypto,\u201d said\u00a0Stefan von Haenisch<\/a><\/strong>, head of trading at OSL SG Pte.<\/p>\n

But it might take a \u201csignificant move lower\u201d to undo all of the bullishness around the halving, he added.<\/p>\n

JPMorgan Chase & Co. and Deutsche Bank AG strategists have said that the quadrennial halving is largely already priced in by investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin sank as part of a wider retreat in cryptocurrencies amid a wave of caution across global markets sparked by Middle East tension.<\/p>\n","protected":false},"author":341034,"featured_media":483299,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44696],"tags":[187,85765,93859,68572,43338,72308],"class_list":["post-533193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-bitcoin-halving","tag-crypto-markets","tag-dogecoin","tag-ether","tag-solana"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/533193"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=533193"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/533193\/revisions"}],"predecessor-version":[{"id":533223,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/533193\/revisions\/533223"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/483299"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=533193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=533193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=533193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}