As the Bitcoin halving approaches, many analyzes and evaluations are being made regarding its impact on the price. While some expect the rise to continue after the halving, others think the halving event is over-exaggerated.
At this point, a detailed evaluation came from Bitwise.
Bitwise analysts, who have historically analyzed the price movements of Bitcoin after the halving, stated that in general, the BTC price did not present a very positive picture in the month following the halving.
Although there was no immediate increase in the short term after the halving, analysts pointed out that in the long term, that is, within a year following the halving, the increase in the BTC price reached triple digits.
“Historically, halvings have benefited the bitcoin price in the long run:
The change in Bitcoin price in the year following the halving was as follows:
2012: 8.839% 2016: 285% 2020: 548%
The change in Bitcoin price in the month following the halving was as follows.
2012: 9% 2016: -10% 2020: 6%
“Data is limited, but the chart reveals an intriguing pattern: Current market prices reflect the short-term impact of the halving but underestimate its long-term impact.”
While Bitwise states that a limited and imprecise interpretation can be made for the Bitcoin price in the short term, considering that the data is limited, it argues that the halving has a tremendous impact on the price in the long term.
*This is not investment advice.