Crypto market analytics platform CryptoQuant believes the effects of Bitcoin halvings have been diminishing and that the upcoming event will have an even smaller impact on BTC’s value., analysts said the effect of the halving has been reducing because the new issuance of BTC keeps getting smaller in relation to the number being sold by long-term holders, signaling that demand will be the key driver of prices post-halving.
Demand from permanent BTC holders has also surpassed issuance for the first time in history, with this cohort of investors adding roughly 200,000 BTC to their balances monthly, a far cry from the 28,000 BTC issuance. Analysts believe long-term holder Bitcoin spending correlates with the price cycle because BTC bottoms at low long-term holder spending periods and peaks at extremely high spending levels relative to the total supply. At the time of writing, long-term holder spending is at low levels.
After the Bitcoin halving on April 20, the monthly issuance will decline to approximately 14,000, leaving demand growth to drive BTC prices to higher levels.and whales fueled the post-halving price rallies. With the current demand growth hovering around 11% month-on-month, its highest ever, it is evident that this factor has been the primary catalyst behind BTC surges.a new all-time high before halving for the first time last month.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Does the Bitcoin halving impact cross-chain interoperability solutions?Beyond the immediate impact on Bitcoin pricing and miner rewards, Bitcoin halving influences cross-chain interoperability.
Source: Cointelegraph - 🏆 562. / 51 Read more »