Renowned for his affinity for memes, sarcasm, and irony, Markus shared a tweet regarding the upcoming Bitcoin halving event, accompanied by a playful BTC price forecast. Nonetheless, his humorous take appears to echo the concerns prevalent within the Bitcoin community.

In response to Markus’ tweet, the official Kraken exchange account pointed out that the halving process does not operate in the manner suggested. Markus retorted with a quip, stating, “what if it does, though.” This exchange carries a tinge of dark irony, reflecting the apprehensions of many cryptocurrency enthusiasts who fear a significant price decline for Bitcoin post-event, rather than an upsurge.

Bitcoin advocate Samson Mow, the head of Jan3 company, also weighed in on these anxieties through a recent tweet. He encouraged the community to relish the era of “\(0.06 million Bitcoin" while it lasts. Although he refrained from making specific price projections, Mow had previously been consistent in his forecasts of Bitcoin hitting the \)1 million mark through the creation of an “Omega candle.” He concluded with a familiar phrase embraced by numerous Bitcoin proponents – “we are still early.”

The halving events serve to uphold the deflationary nature of the primary cryptocurrency, curbing the influx of its supply into the market. Notably, influencer Samson Mow frequently emphasizes in his tweets that the impending halving will trigger a Bitcoin supply shock, while the presence of spot BTC ETFs continues to fuel the emergence of a demand shock.

This piece was originally featured on U.Today