Bitcoin (BTC) successfully completed the fourth halving in its history over the weekend. While BTC consolidated in a narrow range after the halving, the effects of the halving on Bitcoin continue to be discussed.
At this point, the final evaluation came from Glassnode.
Pointing out that the Bitcoin halving caused a 50% decrease in supply, increasing the issuance scarcity, Glassnode analysts stated that in the three cycles before the last halving, the Bitcoin price showed similar performance and increased by approximately 200% to 300%.
However, analysts think the current BTC cycle is different. Because Bitcoin surpassed its previous ATH before the halving event and broke a new record. According to analysts, this was an event not observed in previous cycles.
Analysts think the current cycle is also different when comparing Bitcoin to gold. Analysts pointed out that for the first time in history, Bitcoin's steady-state issuance rate of 0.83% was lower than that of gold, which has a rate of approximately 2.3%, and said that BTC surpassed gold for the first time.
“The fourth halving also marks a significant turning point in Bitcoin's comparison to Gold, as it is the first time in history that Bitcoin's steady-state issuance rate (0.83%) becomes lower than Gold (~2.3%), making It means a historical era.”
*This is not investment advice.