Like the Summer Olympics and the presidential election, bitcoin’s “halving” occurs every four years.

The most recent halving, a scheduled event that halves the available coins for mining, took place on Friday (April 19) evening, as reported by various sources.

As previously mentioned, the halving is hardcoded into bitcoin’s protocol to increase the scarcity of the cryptocurrency, with a total cap of 21 million coins. Historically, this event often leads to a surge in bitcoin’s value.

According to a CNBC report, many investors anticipate significant returns in the coming months based on past trends. Following the halvings in 2012, 2016, and 2020, bitcoin’s price skyrocketed by approximately 93x, 30x, and 8x, respectively, from the halving date to the peak of each cycle.

Despite optimistic expectations, Goldman Sachs has cautioned that external macroeconomic factors could dampen the impact of this cycle’s halving, leaving investors monitoring their digital assets closely amidst market fluctuations.

The cryptocurrency market has experienced a recent downturn from its previous highs, with bitcoin dropping to \(59,900 last week for the first time since early last month. However, the price rebounded slightly above \)61,000 by late Wednesday afternoon.

In a report by Seeking Alpha, H.C. Wainwright analyst Mike Colonnese suggested that the halving could positively influence bitcoin’s price due to supply constraints. Nonetheless, concerns about geopolitical tensions and inflation may exert short-term pressure on mining stocks.

In a positive development, crypto companies have begun to increase their workforce after a period of layoffs, signaling a recovery in the digital asset sector.

For instance, Crypto.com is in the process of hiring 1,400 employees, just over a year after reducing its workforce by 20%. CEO Kris Marszalek revealed plans to expand the team by 700 employees since November, with an additional 500 in customer service and 200 in corporate roles.

Furthermore, leading crypto firms such as Coinbase, Kraken, Binance, and Gemini are also scaling up their workforce to meet growing demands.

During a recent interview, Marszalek cautioned against inflated valuations in crypto funding rounds, emphasizing the importance of achieving sustainable financial returns amidst the current market dynamics.