Bitcoin

Online

Spot

The Bitcoin (BTC) halving, which occurs every four years, is known to be an important event in the cryptocurrency market. Historically, three previous reductions in new BTC supply led to price increases in the following months.
Clem Chambers, CEO of Online Blockchain, describes the halving as a very important and strategic force in the Bitcoin world. “This represents a fundamental shift driven by the principle that ‘code is law,’ as opposed to the complexities associated with ETFs that meddle with people's whims,” the CEO said.
Chambers also noted that the halving is an immutable event, independent of human intervention, immune to conflicting opinions, hiccups or change in policy. “The significance of this fact for me is that it has much larger implications on the price dynamics of Bitcoin,” he added.
Referring to the impact of the previous halving, Chambers stated that this created an effect that pushed Bitcoin into a vertical rise. However, he believes that the current Bitcoin market reflects increasing efficiency where the effects of such events are integrated into price dynamics.
Taras Kulyk, founder and CEO of SunnySide Digital, a leading data center hardware and infrastructure provider serving the Bitcoin mining industry, also shared his views. Kulyk predicts that the halving will likely cause “pain” for higher-cost miners based on input costs.
Kulyk also predicts that if the economy remains solid in the U.S., mergers and acquisitions will be a major theme as the industry consolidates and matures. Kulyk expects power generation companies to become even larger companies in the next 4-year cycle and begin to benefit from the 'first-of-call buyer' economic model in the construction of new energy production.
Related News: <a href="https://en.bitcoinsistemi.com/options-the-next-phase-after-bitcoin-spot-etfs-when-will-they-come-insiders-revealed/" target="_blank" rel="noopener noreferrer nofollow">Options, the Next Phase After Bitcoin Spot ETFs: When Will They Come? Insiders Revealed</a>
Due to these and other factors, Kulyk predicts that we should see Bitcoin prices ranging between $60K and $100K by the end of the year, based on the historical pricing effects of halvings.
TDeFi Operations Director Rishabh Gupta said that he did not think that this halving would be as effective as the previous ones on the price of Bitcoin.
Gupta also sees a potential shift in the expected four-year market cycle:
<blockquote>
 “The four-year cycle will change because institutions are showing more belief and involvement. That's why I believe this cycle will be different. I don't think the halving will affect the market. A large number of BTC that have not yet been traded are kept in wallets. The release of these BTCs will have a more significant impact than the halving itself. “The four-year cycle will change not just because of the halving, but because of corporate involvement.”
</blockquote>
Gupta refrained from making a price prediction but said he expects another bull run after the halving in April, at which point BTC will surpass its previous all-time high of $69,000.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/where-will-bitcoin-halving-take-btc-price-three-analysts-explained/" rel="noopener noreferrer nofollow">Where Will Bitcoin Halving Take BTC Price? Three Analysts Explained</a>

Where Will Bitcoin Halving Take BTC Price? Three Analysts Explained

Bitcoin Sistemi EN

Other articles published on Feb 2, 2024

Bitcoin remains range-bound: A characteristic behavior in the bull market

Planetarium Labs Announces Pilot Version of Prelude to Guild War That Kicks off With Arena Season...

Ripple Hack Update: Here’s What Happened To Stolen XRP Tokens

Internet Computer holders examine Pushd presale while Ethereum recovers

Hong Kong Set To Release Consultation on Regulatory Framework for OTC Crypto Platforms

Zentu Genesis Crosses 100 Million ABBC Milestone in No Time

Join our free newsletter for daily crypto updates!