The price of Bitcoin has soared to $50K, with the halving just around the corner and fewer than 10,000 blocks to go.

On Monday at 17:21 UTC, Bitcoin's value (BTC) climbed to $50,000, representing a 3.48% rise from $49,100. This surge can be attributed to a significant wave of investor interest, especially in Bitcoin ETFs, which have seen total investments of $2.8 billion. Bitcoin ETF Analysts link this price boost to the excitement surrounding the upcoming Bitcoin halving, expected around April 18, 2024, with just under 10,000 blocks remaining. Historical data shows that such events, which occur every four years, usually lead to favorable price shifts by reducing supply.

Currently, Bitcoin is trading at $50,057 as of the time of writing.

The digital asset investment sector is experiencing noticeable growth.

The latest reporting highlights substantial inflows into digital asset investments like Bitcoin ETFs, with $1.1 billion pouring in over the past week, bringing the year-to-date total to $2.7 billion.

A recent weekly report from  CoinShares According to the report, the overall market for digital asset products has now climbed to $59 billion, hitting its highest point since early 2022.

Bitcoin continues to lead the pack in investment inflows, making up nearly 98% of the overall inflow volume. The recent uptick in Bitcoin's price has positively influenced investor sentiment towards other significant cryptocurrencies like Ethereum and Cardano.

Ethereum has drawn in $16 million in new investments, while Cardano has gained $6 million. Moreover, there were small investments recorded for various other assets, including $0.4 million each for different projects and Tron, reflecting a broader interest in digital currencies.

The impending halving event in April is a pivotal moment in Bitcoin's monetary strategy, aimed at amplifying its scarcity. The rate of Bitcoin supply growth, which was initially over 10%, has now decreased to approximately 1.75%, with expectations of further decline to about 0.85% post-halving. Avalanche  ($0.5 million),  Polygon In a prior discussion with Metaverse Post, Ben Weiss, the CEO and co-founder of a prominent blockchain company, outlined several factors he believes will drive Bitcoin's expected price surge: regulatory changes, increased institutional engagement, and advancements in technology.

2024 marks  Bitcoin’s fourth halving \"Bitcoin has outperformed every other asset over the last decade, but in many ways, its technology lags behind where the internet was in the 1990s. We have just scratched the surface of its true potential,\" Weiss explained to Metaverse Post. \"Shifts such as the halving, the approval of ETFs, evolving regulations, layer 2 scalability improvements like Ethereum 2.0, and the growth of stablecoins will significantly influence the future direction of digital assets.\"

It's essential to remember that the information shared on this site doesn't constitute legal, tax, investment, or financial advice. Always invest responsibly and consult an independent financial advisor if you're uncertain. For more details, please explore the issuer's terms, conditions, and support pages. While MetaversePost strives for accurate and unbiased reporting, market conditions can change rapidly and without prior notice. CoinFlip Victor serves as the Managing Tech Editor/Writer at Metaverse Post, specializing in topics related to artificial intelligence, cryptocurrency, data science, the metaverse, and cybersecurity in the enterprise context. With five years of experience in media and AI, he has contributed to respected platforms like VentureBeat, DatatechVibe, and Analytics India Magazine. He is also a Media Mentor at esteemed institutions like Oxford and USC and holds a Master’s degree in data science and analytics, ensuring he remains at the forefront of emerging trends.

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