Recently, Bitcoin (BTC), which is the first cryptocurrency, underwent a halving process, cutting rewards for its miners in half. Most analysts view halvings as positive because they increase demand by reducing the amount of an asset.
When discussing the effects of BTC’s latest halving cycles, Glassnode noted that ‘Bitcoin has been used for the first ever time in human history‘S steady-state issue rate (0.83%), which is now lower than gold (2.3%) marks an historic change in the status of the rarest commodity.‘
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/Bitcoin-Inflation-Rate-Now-Lower-Than-Gold.jpg)
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Glassnode’s latest report shows Bitcoin’s inflation rate (BTC), is officially now lower than gold. This makes Bitcoin the world’s most valuable cryptocurrency.
Bitcoin (BTC), now that it is scarcer than Gold, will the price of Bitcoin (BTC), rise?
![bitcoin btc gold prices cryptocurrency xau usd](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/How-Will-it-React-to-the-Bitcoin-Halving.jpg)
![bitcoin btc gold prices cryptocurrency xau usd](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/How-Will-it-React-to-the-Bitcoin-Halving.jpg)
In the past, a BTC halves event has triggered a bullish market phase. This time, a similar pattern could also unfold. The crypto market is experiencing another downturn.
BTC experienced a correction of 3.5% on the daily chart and an 8,9% correction on the 14-day charts. It also saw an 8.5% drop over the last month. This could be due in part to fears generated by investors over the Iran-Israel Conflict, inflation, or fading interest rate expectations.
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/1714051629_445_Bitcoin-Inflation-Rate-Now-Lower-Than-Gold.jpg)
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/1714051629_445_Bitcoin-Inflation-Rate-Now-Lower-Than-Gold.jpg)
Also Read: Tesla Says None of their $711 Million Bitcoin Was Sold in Q1 2024
There is still a chance that Bitcoin (BTC), will soon enter into a rally. CoinCodex says that BTC is likely to reach an all-time record very soon. Platform predicts BTC will reach $85,033 by May 22nd, 2024. The platform predicts that BTC will reach $85,033 on May 22, 2024.
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/Bitcoin-Inflation-Rate-Now-Lower-Than-Gold.png)
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/Bitcoin-Inflation-Rate-Now-Lower-Than-Gold.png)
ChangellyThe platform, however, has a more positive outlook on Bitcoin (BTC). BTC is expected to reach an all-time record of $74,381 by April. 26, 2024. The platform also predicts that BTC will surge to $87.121 by 20 May 2024.
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Source: watcher.guru