market cycle is unique; it hit a new all-time high of $73.7K before the halving event. In the previous cycles, an ATH always happens post-halving.In an interview with Bloomberg last week, Fred Thiel, the CEO of BTC miner Marathon Digital, claimed that the current BTC price has already partially priced in the halving.
“The ETFs, which have been a huge success, have attracted capital into the market and essentially brought forward what could have been price appreciation we typically would have seen in 3 to 6 months post-halving.”“The halving will reduce the supply of Bitcoin by about 450 per day, which will have some small impact on price movements probably.”“A bullish scenario for price appreciation in the years to come.”Interestingly, Crypto.
“I think there’s a general consolidation phase going on right now, which is similar to the previous cycles. I expect a pretty decent action in six months following the Bitcoin halving.”Based on historical data, the spike in retail interest meant that a cycle top was closer than ever. However, whether BTC will front explosive traction post-halving remains to be seen.Benjamin is a Telecommunication Engineering graduate who is passionate about crypto-markets and unraveling market trends.