Will the Rise in Bitcoin Continue After the Halving? According to This Analyst, the Answer is “Yes!”

Leading cryptocurrency Bitcoin While we were preparing for the halving event that will take place hours later, there were sharp declines last week.

While these sharp declines and outflows in ETFs have partially overshadowed the sentiment towards the halving, the bullish expectation for the post-halving is that Bitcoin will exceed the highest level of the 2021 cycle even before the halving, reaching its all-time high above $ 73,000 in mid-March and attracting both institutional and institutional investors. It continues to be fueled by the increasing interest of individual investors.

Speaking to The Block, Coincover Chief Strategy Officer Duncan Ash said: BTC He stated that he expects the price to increase in the short term after the halving.

“After the halving, the Bitcoin price will rise until it convinces new investors to enter the market.

This will restore a closer balance between the number of buyers and sellers and bring order to the market. Additionally, the industry will emerge with more users, higher market capitalization and greater liquidity.”

According to Bitfinex Derivatives President Jag Kooner, he said that the correction after the tension between Iran and Israel last weekend overshadowed the enthusiasm and expectation of the halving.

In his note to The Block, Kooner said, ““It remains to be seen whether macro conditions will impact fundamentals, but investors are certainly more cautious about Bitcoin and the crypto market now than they were a week ago.” said.

*This is not investment advice.