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Caught up in crypto fever? Heed lessons from 2022

This weekend’s Bitcoin halving may prompt a bull market, but risks remain

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    • Past Bitcoin halvings showed a pattern of heightened market activity and price rallies, but were followed by a correction phase.
    • Past Bitcoin halvings showed a pattern of heightened market activity and price rallies, but were followed by a correction phase. PHOTO: REUTERS

    Lim Wee Kian

    Published Fri, Apr 19, 2024 · 11:00 AM

    THIS has been a comeback year for cryptocurrencies. In the first quarter, the US approved 11 spot Bitcoin exchange-traded funds (ETFs), while Bitcoin prices hit an all-time high.

    This week, Hong Kong gave “initial approval” for asset managers to launch Bitcoin and Ethereum ETFs. Even meme coins and non-fungible tokens (NFTs) – which seemed to have collapsed just over a year ago – have rebounded, some with eye-watering returns.

    Now, the industry is crossing another milestone: the fourth “Bitcoin halving”, set to happen this weekend.

    crypto exchangeCryptocurrenciesBitcoin

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