Banking giant Goldman Sachs warned those who interpreted the Bitcoin halving, which will be held a few days later, by looking at previous years.
Block rewards after the fourth Bitcoin halving, expected to take place on April 20 From 6.25 BTC to 3.125 BTC will drop and the amount of new BTC entering circulation on a daily basis will be halved.
Goldman Sachs analysts, “Historically, in the past three halvings, there was an increase in the BTC price after the halving, although the time for breaking new records varied. Considering the current macro conditions from past cycles And Care should be taken when interpreting the effect of halving.” said.
In the table below, Bitcoin’s performance after the halvings on November 28, 2012, July 9, 2016 and May 11, 2020 can be seen.
Macro conditions have had a major impact on the course of Bitcoin price in past halvings. During the halving period in 2020, there was significant growth in the money supply of leading central banks such as the Fed, the European Central Bank, and the Central Bank of China.
Bitcoin price, for its part, has risen by nearly 50% over the course of this year. broke a new record. Some analysts say that the halving effect is already reflected in the price he thinks.
Goldman Sachs analysts say Bitcoin medium term of your performance supply and demand dynamics and will be shown to Bitcoin ETFs student He thinks he is connected.
