TL;DR
- Bitcoin and other cryptocurrencies suffer sharp declines due to geopolitical tensions between Israel and Iran.
- The fourth Bitcoin halving is scheduled for April 19, 2024, reducing the block reward from 6.25 to 3.125 BTC.
- Bitcoin, Injective, Dogecoin, and Stacks are gearing up for key events in the coming days.
The cryptocurrency industry faced a tumultuous weekend. Bitcoin and other cryptocurrencies experienced abrupt declines due to geopolitical tensions between Israel and Iran. However, the upcoming days will be filled with interesting events, primarily the much-anticipated halving.
The community is gearing up for the fourth Bitcoin halving, scheduled for April 19, 2024, around 22:56 UTC. This event, occurring every 210,000 blocks, will reduce the block reward from 6.25 to 3.125 BTC. The decrease in the cryptocurrencies creation rate could boost the price due to the reduction in supply. According to Charles Edwards, founder of Capriole Investments, this fourth halving will be the most important of all, as Bitcoin is about to become the scarcest asset in the world, surpassing even gold.
The next significant event this week is the Injective upgrade, which will bring changes to its tokenomics. While details are speculative, the Injective team hinted at substantial changes that could give a bullish boost to their cryptocurrency.
Key Days for Cryptocurrencies
Continuing with the list of events, the Stacks blockchain is also set to deploy its Nakamoto upgrade, named after Satoshi Nakamoto, the creator of Bitcoin. It aims to enhance the blockchain’s capacity, especially in terms of decentralized applications (dApps) and smart contract functionality. Key features include increased transaction throughput, improved security, and greater integration with BTC.
On the other hand, the launch of the Bitcoin Runes protocol is expected. An innovative approach to token management on the BTC blockchain. This protocol will simplify the creation and management of tokens using Bitcoin’s native UTXO model. Additionally, its integration with the Lightning Network will improve transaction speed and efficiency, increasing its utility and attractiveness for developers and users.
Finally, the Dogecoin community is gearing up to celebrate “Doge Day” on April 20, an annual event that typically generates increased interest and price of DOGE. This particular day emerges to celebrate the meme culture that inspired the creation of Dogecoin.
