While the Bitcoin halving is among the most important events of 2024, it 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 that the Bitcoin halving may have already been priced into the market.
Coinbase analysts David Duong and David Han stated that the BTC halving may have been priced into the rally in March and 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 is already 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 stated that Bitcoin's recent price decline may indicate that investors are making 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.
