Bitcoin While the halving is among the most important events of 2024, its realization is eagerly awaited.
At this point, while the halving is expected to be an important catalyst on the BTC price, a new report came from Coinbase.
Speaking to The Block Coinbase analysts said the Bitcoin halving may have already been priced into the market.
Coinbase analysts David Duong and David Han on the rally in March BTC Stating that the halving may have been priced in, he said:
“The latest rally may be the first halving cycle in which Bitcoin breaks its all-time high before the halving. This could mean that the halving effect has already been priced in by experienced investors.
However, there is still a collective belief in the market that the halving could push prices up, resulting in a rally.”
“Bitcoin’s Drop is Just a Correction!”
Apart from Coinbase analysts, YouHolder senior official Sergei Gorev also thinks that the halving may already be priced in. At this point, Gorev of Bitcoin He stated that the recent price drop may indicate that investors are taking profits in anticipation of increased volatility before or after the upcoming halving event.
“As the next Bitcoin halving approaches, current price dynamics suggest that the halving may actually be priced in.
The latest decline means that investors made a profit before the halving. But so far, Bitcoin’s downtrend looks more like a correction than a downtrend.”
*This is not investment advice.
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