Bitcoin’s post halving price charts will go THIS way – Experts

    Marathon Digital executive claims BTC has already partially priced the halving.  
    Other execs disagree and expect BTC to follow previous cycles’ price action. 

In simpler terms, the Bitcoin market’s recent peak at $73.7K prior to the halving was unlike past cycles where new record highs were reached following the halving event.

This begs the question: Is the Bitcoin halving already priced?

Last week in an interview with Bloomberg, Marathon Digital’s CEO Fred Thiel expressed his belief that the ongoing bitcoin price rise has incorporated some of the anticipated effects of the recent halving event.

Citing the success and capital flows of new spot BTC ETFs, Thiel said, 

“ETFs, which have experienced great popularity, have drawn significant investment into the market and potentially accelerated price growth that might have taken place around 3 to 6 months following a halving event.”

On the post-halving price projection, Thiel noted that,

Approximately 450 Bitcoins will be removed from circulation each day due to the halving process. This could potentially influence the price trend, though the effect may be modest.

In other words, the executive expected little impact on the BTC price after halving. 

Bitcoin miner Riot Platforms thinks otherwise

Despite the Bitcoin halving, Riot Platforms, a Bitcoin mining company, stayed optimistic, as expressed by their Chief Investment Officer, Jason Les.

“A bullish scenario for price appreciation in the years to come.” 

That’s a long-term BTC projection after the 2024 halving. 

It’s worth mentioning that CEO, Kris Marszalek, has pointed out some similarities between the present Bitcoin price movements and those of the past cycle. In an interview with Bloomberg, he made this assertion.

“Based on past trends, it seems we’re entering a period of consolidation for Bitcoin. I believe there will be significant price movements approximately six months after the next halving event.”

However, Marszalek claimed that Bitcoin could see selling ahead of the halving. 

Retail involvement is on the rise and could potentially disrupt the fun.)

According to past trends, the surge in retail engagement with Bitcoin suggests that a market peak could be near. Yet, it’s uncertain if Bitcoin will experience significant growth following the halving event.

Read More

2024-04-17 23:03