Re: [2024-09-05] Bitcoin Halving Events No Longer Drive BTC Price, Report Says
I have been saying this for years... you have to look at the bigger picture when you analyze the full impact of the price.. before and after the Halving. What other significant events happened before or after the Halving... that also impacted the price during that period.
Most Bitcoin traders and hoarders also know that the impact of the Halving are priced into it, way before the actual event happens, because the media hype will start weeks in advance.
Also, whatever impact it has.... was watered down by the many times it happened before... so people do not react to it as much, as they did with the early Halving events we had in the early days.
Most Bitcoin traders and hoarders also know that the impact of the Halving are priced into it, way before the actual event happens, because the media hype will start weeks in advance.
Also, whatever impact it has.... was watered down by the many times it happened before... so people do not react to it as much, as they did with the early Halving events we had in the early days.
New supply if some of it has to be sold by miners to finance operations definitely impacts the price. Of course with a higher fiat price, fewer need to be sold which further decreases new supply available on the market. Back when you could CPU or GPU mine, many miners could easily finance a few hundred dollars extra a month without having to sell. Now, as the size of the block reward decreases and the industrial scale miners have huge costs, that has changed.
Halvings, ETFs, etc are not all or nothing things that impact the fiat price, they all combine on the supply and demand curve to reach the market price.