Cryptocurrencies

Data Driven Investor: This Year’s Bitcoin’s Halving is Better Than Past Halvings

Posted on by Andrew Packer

Cryptocurrencies are in a bull run, and ahead of schedule. Bitcoin typically makes new all-time highs in the six to nine months after it goes through a halving. This year, however, bitcoin is already making new all-time highs, trending over $73,000 this week.

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    • Other cryptocurrencies have started to move as well. Ethereum, the second-largest crypto by market cap, is over $4,000. Meanwhile, the halving trend could push bitcoin and then other cryptos substantially higher from here.

    The halving process cuts the reward for mining bitcoin in half. Miners produce less bitcoin.

    This year, this drop in supply will be met with the rising demand for bitcoin. That’s because the SEC approved 11 ETFs that hold bitcoin.

    It took the first gold ETF two years to get $10 billion in assets. BlackRock’s bitcoin ETF alone hit this milestone in just two months.

    In a similar vein, gold ETFs helped push the demand for gold higher. That led to rising gold prices in the mid-2000s.

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    • But gold mining tends to produce steady supplies each year.

    This puts bitcoin in uncharted territory. And it’s likely that prices have much higher to go in the months ahead.

    Investors should ensure that they’re allocated where they want to be in crypto as soon as possible. That will allow them to get the best pricing ahead of the next big move.

     

    To read the full analysis, click here.

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