With Bitcoins BTC/USD fourth halving on the horizon in April 2024, many believe it could significantly influence the cryptocurrencys value.
What Happened: A Finder survey, which compiled insights from 31 FinTech specialists, suggests that Bitcoins average price could reach about $87,000 following the halving event.
Bitcoin halving is a scheduled event that cuts the reward for mining new blocks in half, occurring approximately every four years or after 210,000 blocks are mined. This mechanism is designed to control inflation by reducing the rate at which new bitcoins enter circulation.
Research from CoinGecko has compiled predictions from a number of industry authorities: ARK Invest, led by CEO Cathie Wood, predicts a rise in BTC price between $600,000 and $1.5 million by 2030. Matrixport's Markus Thielen points to a possible $125,000 value by the end of 2024. BitQuant has taken a spread approach, placing the end of 2024 price somewhere between $80,000 to $250,000. Layer One X's Matiu Rudolph suggested a surge to $340,000 by 2025. Bloomberg Intelligence's Mike McGlone is eyeing $100,000 by 2026.
While not committing to a specific number, Morgan Stanleys Denny Galindo signals the start of a new bull run post-halving. Bernsteins Gautam Chhugani is betting on Bitcoin reaching $150,000 by 2025.
The research also notes that over 47% of these industry experts consider Bitcoin undervalued and just 10% viewing it as overpriced.
See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
Why It Matters: The Bitcoin halving is a pre-coded event in the Bitcoin protocol that reduces the reward miners receive for validating blockchain transactions, thus controlling the issuance of new Bitcoin and maintaining its scarcity??.
Initially, in 2009, miners were rewarded with 50 BTC for each block. The first halving in 2012 reduced this to 25 BTC, and subsequent halving in 2016 and 2020 further decreased it to 12.5 and 6.25 Bitcoin, respectively.
The halving constrains the rate at which new Bitcoin is created. This affects the balance between supply and demand. When the supply decreases while demand remains constant or increases, the value of Bitcoin is likely to rise??.
Price Action: At the time of writing, Bitcoin was trading at $42,251 up 1.52% in the last 24 hours, according to Benzinga Pro.
Read Next: Heres How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?
A small plane has crashed at Southend Airport in Essex.
Essex Police said it was at the scene of a “serious incident”.
Images posted online showed huge flames and a large cloud of black smoke, with one witness saying they saw a “fireball”.
A police statement said: “We were alerted shortly before 4pm to reports of a collision involving one 12-metre plane.
“We are working with all emergency services at the scene now and that work will be ongoing for several hours.
“We would please ask the public to avoid this area where possible while this work continues.”
Image: A huge fireball near the airport. Pic: Ben G
It has been reported that the plane involved in the incident is a Beech B200 Super King Air.
According to flight-tracking service Flightradar, it took off at 3.48pm and was bound for Lelystad, a city in the Netherlands.
One man, who was at Southend Airport with his family around the time of the incident, said the aircraft “crashed headfirst into the ground”.
John Johnson said: “About three or four seconds after taking off, it started to bank heavily to its left, and then within a few seconds of that happening, it more or less inverted and crashed.
“There was a big fireball. Obviously, everybody was in shock in terms of witnessing it. All the kids saw it and the families saw it.”
Mr Johnson added that he phoned 999 to report the crash.
Southend Airport said the incident involved “a general aviation aircraft”.
Four flights scheduled to take off from Southend this afternoon were cancelled, according to its website.
Flightradar data shows two planes that had been due to land at Southend were diverted to nearby airports London Gatwick and London Stansted.
Image: Plumes of black smoke. Pic: UKNIP
Essex County Fire and Rescue Service said four crews, along with off-road vehicles, have attended the scene.
Four ambulances and four hazardous area response team vehicles are also at the airport, as well as an air ambulance, the East of England Ambulance Service said.
Its statement described the incident as “still developing”.
Image: Fire engines at the airport
David Burton-Sampson, the MP for Southend West and Leigh, posted on social media: “I am aware of an incident at Southend Airport. Please keep away and allow the emergency services to do their work.
“My thoughts are with everyone involved.”
Local councillor Matt Dent said on X: “At present all I know is that a small plane has crashed at the airport. My thoughts are with all those involved, and with the emergency services currently responding to the incident.”
This breaking news story is being updated and more details will be published shortly.
The man convicted of the murder of British student Meredith Kercher has been charged with sexual assault against an ex-girlfriend.
Rudy Guede, 38, was the only person who was definitively convicted of the murder of 21-year-old Ms Kercher in Perugia, Italy, back in 2007.
He will be standing trial again in November after an ex-girlfriend filed a police report in the summer of 2023 accusing Guede of mistreatment, personal injury and sexual violence.
Guede, from the Ivory Coast, was released from prison for the murder of Leeds University student Ms Kercher in 2021, after having served about 13 years of a 16-year sentence.
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Since last year – when this investigation was still ongoing – Guede has been under a “special surveillance” regime, Sky News understands, meaning he was banned from having any contact with the woman behind the sexual assault allegations, including via social media, and had to inform police any time he left his city of residence, Viterbo, as ruled by a Rome court.
Guede has been serving a restraining order and fitted with an electronic ankle tag.
The Kercher murder case, in the university city of Perugia, was the subject of international attention.
Ms Kercher, a 21-year-old British exchange student, was found murdered in the flat she shared with her American roommate, Amanda Knox.
The Briton’s throat had been cut and she had been stabbed 47 times.
Image: (L-R) Raffaele Sollecito, Meredith Kercher and Amanda Knox. File pic: AP
Ms Knox and her then-boyfriend, Raffaele Sollecito, were placed under suspicion.
Both were initially convicted of murder, but Italy’s highest court overturned their convictions, acquitting them in 2015.