Bitwise Asset Management reiterated its bullish view on Bitcoin. Ryan Rasmussen, a researcher at the asset manager, published his views on the future of Bitcoin after the fourth cryptocurrency halving on the Schwab Network on Monday.
Ryan explained that historically, what happens to miners after the halving is that you see some consolidation across the industry. Some miners are not prepared to deal with the new economic conditions in the mining industry in the post-halving cycle. From a price perspective, what we usually see is that the year before the halving and the year after the halving are the best years for Bitcoin in a three- or four-year cycle, and that has happened.
He pointed out that while there is no guarantee that the same will happen in the future, he stressed that we definitely had a great year before the halving. We bounced back from the lows of 2022 and had a great 2023. We are off to a good start in 2024. I do think we will continue to test higher highs in 2024 and the next year after the halving.
Bitwise: Bitcoin Expected to Continue Testing Higher Highs in the Next 12 Months
2024-04-23 06:40:13
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