The United States’ largest cryptocurrency exchange, Coinbase, has talked about the upcoming Bitcoin halving and its possible effects on the price.
In the report released on Wednesday, March 20, Coinbase made statements about the impending Bitcoin halving expected to occur in mid-April.
Looking at historical data, the exchange pointed out that Bitcoin has historically shown an upward trend before and after halvings, but warned against macroeconomic factors. Additionally, it emphasized that there have only been 3 halvings so far, making it limited data to make predictions.
While they expressed expectations for a rise after the halving, they also reminded that the impact of significant macroeconomic factors such as the US’s stance on interest rates, geopolitical wars, and potential pandemics cannot be overlooked:
It is possible that the halving will have a positive impact on Bitcoin’s performance, but the limited historical evidence on this relationship makes the situation somewhat speculative.
Historically, Bitcoin rose by 91 times after the halving in 2012, 33 times after the 2016 halving, and 6 times after the 2020 halving. Most of these increases were spread over months.
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