You need to wait another two months for the post-halving effect

Bitcoin optimists will need to wait at least two months before assessing the effect of reducing the reward to miners for a mined block. About it reported QCP Capital analysts.

“In previous years, the spot price rose exponentially only 50-100 days after each of the three halvings. If this pattern repeats this time, Bitcoin bulls still have weeks to build a larger long position,” the report said.

According to Bitfinex experts, post-halving supply restrictions will stabilize the price of the first cryptocurrency and may contribute to its growth.

“The slower pace of post-halving Bitcoin issuance, which will be worth $30-40 million per day, stands in stark contrast to the average daily net inflows of $150 million into spot ETFs. This highlights a significant imbalance in supply and demand, which could contribute to further price increases,” Bitfinex said in the report.

According to analysts, the reaction of the first cryptocurrency to tensions in the Middle East and beyond is important for the market. It provides important insights into the “long-term viability of Bitcoin as digital gold.”

Bitfinex representatives also predicted a stabilization of the situation in the ETF segment after recent outflows.

Source: Cryptocurrency

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