Historical data hints at a strong probability of a post-halving rally, but returns might be rather modest
to happen in just 12 days from now. According to blockchain analytics firm IntoTheBlock, there are two main trends that traders and investors should pay attention to ahead of this much-anticipated event. As noted by IntoTheBlock, the Bitcoin price has consistently increased after each halving event.
This was the case due to the reduced rate of new coins that were introduced into circulation by miners. that the largest cryptocurrency could be on the cusp of having its most impactful block reward reduction to date. This is due to the reduction of supply being significantly bigger in dollar terms compared to previous halvings. , Ark's Cathie Wood expects the Bitcoin price to experience a post-halving rally just like it did during previous rallies.
However, the introduction of Bitcoin exchange-traded funds makes it more challenging to predict how the price of the largest cryptocurrency will behave after the upcoming halving event. On top of a supply shock, the flagship cryptocurrency is also experiencing growing demand due to the success of ETF products introduced by BlackRock and other major firms. Franklin Templeton's Sandy Kaul believes that such a unique set-up is different from the previous three halving events.
Ripple to Launch Dollar-Backed Stablecoin, Samson Mow Likens Bitcoin ETFs to Matrix's Neo, Shiba Inu Surges 1,058% in Key Metric: Crypto News Digest by U.Today Ripple to Launch Dollar-Backed Stablecoin, Samson Mow Likens Bitcoin ETFs to Matrix's Neo, Shiba Inu Surges 1,058% in Key Metric: Crypto News Digest by U.TodayRipple to Launch Dollar-Backed Stablecoin, Samson Mow Likens Bitcoin ETFs to Matrix's Neo, Shiba Inu Surges 1,058% in Key Metric: Crypto News Digest by U.Today
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