Digital asset markets tend to underestimate the long-term price impact of the Bitcoin (BTC) halving, according to Bitwise, a leading cryptocurrency index fund management company.
bit by bit Note After the previous halvings in 2012, 2016, and 2020, BTC prices rose 9%, fell 10%, and rose 6% in the first month, respectively.
However, Bitcoin soared 8,839% in the first year after the 2012 halving, 285% the year after the 2016 halving, and 548% after the 2020 halving.
Bitcoin spot trading volume also increased during each of the three halving years, according to Matt Hogan, Bitwise's chief investment officer, and Juan Leon, the company's senior crypto research analyst.
“Of course, we have limited data; we are only dealing with three historical examples. Their picture is relatively intuitive and suggests that market prices are affected by the short-term effects of the halving. But underestimate the long-term effects. Data also suggests it could be halved in the long term. leading to price increases. ”
According to hashrate market NiceHash, Bitcoin halving is currently scheduled for April 20th.
As of this writing, BTC is trading at $61,486. The top crypto asset by market cap has fallen more than 3% in the past 24 hours and more than 12% in the past week.
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