Bitcoin

April

Spot

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/coinbase-analyzes-bitcoins-performance-and-halving-influence" rel="noopener noreferrer nofollow">Coinbase Analyzes Bitcoin’s Performance and Halving Influence</a><br></p>
<p style="text-align: justify">In a new analysis by cryptocurrency exchange <a href="https://en.bitcoinhaber.net/ftx-continues-tax-dispute-with-irs-amidst-bankruptcy-proceedings" rel="noopener noreferrer nofollow">Coinbase</a>, the impact of <a href="https://en.bitcoinhaber.net/significant-sell-off-hits-crypto-markets-global-value-drops-5" rel="noopener noreferrer nofollow">Bitcoin</a> halving events on the digital asset’s value was assessed, alongside other influential factors. The study highlighted that Bitcoin’s valuation is not solely dependent on its halving cycles, which historically occur every four years and reduce <a href="https://en.bitcoinhaber.net/bitcoin-mining-stocks-surge-ahead-of-etf-expectations-and-halving-event" rel="noopener noreferrer nofollow">mining</a> rewards by half. Instead, various external elements such as global economic trends also play a critical role.</p>
<h2 id="bitcoin-s-valuation-increase-post-halving-assessed">Bitcoin’s Valuation Increase Post-Halving Assessed</h2>
<p style="text-align: justify">Coinbase’s report shed light on Bitcoin’s substantial increase in value, noting a 61% rise six months prior to the last halving and a 348% surge in the following six months. The halving’s influence on the cryptocurrency’s performance, while notable, remains speculative without concrete evidence to firmly establish causality, according to Coinbase analysts.</p>
<p style="text-align: justify">The anticipation of the next halving on April 15th has sparked discussions about its potential effects on Bitcoin’s price. However, Coinbase insists that Bitcoin’s market dynamics are influenced by broader factors, including global economic conditions, the aftermath of the Covid-19 pandemic, and monetary policy changes.</p>
<h2 id="spot-etfs-and-bitcoin-s-recent-price-surge">Spot ETFs and Bitcoin’s Recent Price Surge</h2>
<p style="text-align: justify">The recent Bitcoin price surge, as per the report, is attributed primarily to the expectations surrounding spot Bitcoin exchange-traded funds (ETFs), rather than the approaching halving. The report also considers the behavior of long-term Bitcoin holders, who appear to view the cryptocurrency as a resilient investment option, thereby stabilizing its price.</p>
<p style="text-align: justify">Coinbase’s analysis further suggests that an upcoming shift in the Federal Reserve’s interest rate policy and a potential scale-back in quantitative tightening could provide a boost to risky assets like Bitcoin. The report concludes with a snapshot of Bitcoin’s price movement, capturing a recent dip to $60,775 followed by a recovery to $68,270, before a slight retreat to $67,065 at the time of the analysis.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/coinbase-analyzes-bitcoins-performance-and-halving-influence" rel="noopener noreferrer nofollow">Coinbase Analyzes Bitcoin’s Performance and Halving Influence</a></h5>

Coinbase Analyzes Bitcoin’s Performance and Halving Influence

Table of Contents

BH NEWS

Other articles published on Mar 21, 2024

Ripple & Litecoin Traders Anticipating Big Rewards from Raffle Coin (RAFF) Presale

Dogecoin Faces a Challenging Test in the Volatile Crypto Market

Research Firm Declares Cryptocurrency World’s Most Popular Altcoin Network in 2024

Hong Kong central bank flags e-HKD investment scams

Hidden Ethereum Chart Hints at Volatility Explosion

Bitcoin Spikes, Pulling Altcoins Up in Market Rally

Join our free newsletter for daily crypto updates!