Approaching Bitcoin The halving has become an important driver of market speculation. VeChain founder Sunny Lu suggests that the evolving impact of regulation will significantly impact Bitcoin’s trajectory after the upcoming halving event.
VeChain Founder: “The Power of Macro Effects is Now Felt Rather Than the Halving”
“If we compare this cycle with the previous one, the impact of regulation becomes evident,” Lu said in an email. Lu also explained that regulatory actions since the last halving in May 2020 have also driven significant price movements.
Lu mentioned that Bitcoin price reached all-time highs after the previous halving in May 2020. There have been three major price peaks, catalyzed by Coinbase’s IPO in April 2021, the approval of Bitcoin futures ETFs in November of that year, and the approval of spot BTC ETFs in January of this year.
“This was the first cycle to see post-halving all-time highs, triggered by regulatory developments in addition to the psychological impact of the halving on the entire market,” Lu added.
VeChain founder stated that there has been a transition from the traditional approach, in which the impact of the halving is based solely on supply dynamics, to a more comprehensive consideration of macroeconomic factors. Lu concluded his words as follows:
“The impact of macro forces began to come to the fore rather than the mathematics of the halving, which inherently caused an increase in prices due to a smaller supply released to the market.”
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!