Bitcoin: Why Schiff’s prediction about Halving and BTC’s price is wrong

Despite its high value, an important metric revealed that buying BTC might remain profitable.skeptic Peter Schiff has come out with another prediction, saying that the coin’s supply would not be cut in half by the halving.According to him, 90% of the total Bitcoin supply already exists. Therefore, the only thing left to cut is the supply growth, not Bitcoin’s.

Regarding the halving which would most likely happen in April, miners will get 3.125 BTC as reward. Historically, Bitcoin’s price has surged to amazingBut this time, it has been different as the coin hit a new high before the event. For AMBCrypto, opinion and history alone do not move markets. Therefore, we considered it necessary to evaluate the state of Bitcoin on-chain.For those uninitiated, the Difficulty Ribbon Compression quantifies zones of high and low compression which can help inWith a compression threshold of 0.05, the metric suggested that Bitcoin at $72,864 remains a good buying opportunity.

If the inflation rate continues to drop as the halving approaches, gains for Bitcoin might accelerate within months. Furthermore, attention in the coin’s direction has been rising, as shown by the social volume.

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