Glassnode: Investors should lower expectations after bitcoin halving

Citing historical data and the diminishing return effect, Glassnode reminded investors to lower their expectations of a sharp price increase after the halving of Bitcoin. Bitcoin recently ushered in its fourth halving, that is, the halving of the block reward has reduced supply inflation and increased the scarcity of issuance. However, Glassnode stressed that investors should not be blindly optimistic, and historical data show that the positive effect of the halving may gradually fade. Glassnode believes that the current cycle is different from the previous one. Bitcoin broke through the all-time high before the halving, which has not been seen in previous cycles. In this halving event, investors held significant unrealized profits.