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3 Comments
tldr; Despite pre-event trader activity, the upcoming Bitcoin halving is not yet priced in, according to BitGo’s Matt Balensweig. He argues that the halving will lead to real changes in Bitcoin’s supply and demand dynamics, similar to the impact seen after the approval of spot Bitcoin ETFs. Balensweig contrasts with Coinbase analysts who suggest the halving’s effects might already be accounted for due to Bitcoin reaching a new all-time high before the event. The halving, which reduces the block reward for miners, is expected to create bid-side pressure by decreasing daily supply on exchange order books, assuming demand remains constant.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
I think that boost we seen was action from ETFs. I know the article says something similar.
crazy, just the other day it was “diving”.