Renowned for his affinity for memes, sarcasm, and irony, Markus shared a tweet regarding the impending Bitcoin halving event, coupled with a playful BTC price forecast. However, his humorous take appears to echo the apprehensions prevalent among many in the Bitcoin community.

In response to Markus, the official Kraken exchange account pointed out that the halving operates differently. Markus retorted with a witty “what if it does, though.” This exchange encapsulates a certain dark irony, reflecting the widespread concern among cryptocurrency holders that the Bitcoin price might plummet significantly post-event, rather than surge.

Bitcoin advocate Samson Mow, the head of Jan3 company, also touched upon these anxieties in a recent tweet. He urged the community to savor a “ppp[0.06] million Bitcoin” while it lasts. While refraining from specific price forecasts, Mow has previously alluded to Bitcoin hitting the $1 million mark through an “Omega candle” in his earlier tweets. He concluded with the popular Bitcoin community phrase, “we are still early.”

Halvings play a crucial role in maintaining the deflationary nature of the primary cryptocurrency, with its market injection dwindling. Samson Mow, the aforementioned influencer, frequently emphasizes that the upcoming halving will trigger a Bitcoin supply shock, while the rise of spot BTC ETFs has fueled the emergence of a demand shock.

The original publication of this article can be found on U.Today