Bitwise, an asset management company, reiterated its positive view on Bitcoin. Ryan Rasmussen, a researcher at the asset management company, expressed his outlook on the future of Bitcoin after its fourth halving on Monday on the Schwab Network.
Ryan explained that historically, after halving, there tends to be consolidation in the entire industry. Some miners are not prepared to handle the new economic conditions in the mining industry during the post-halving period. From a price perspective, we usually see that the year before and the year after the halving are the best-performing years for Bitcoin in a three to four-year cycle, and this has already happened.
He pointed out that although we cannot guarantee the same situation will happen in the future, he emphasized that we have certainly had a good year before the halving. We rebounded from the low point in 2022, had a great year in 2023, and had a good start in 2024. I do believe that we will continue to test higher highs in 2024 and the year after the halving.
Label:
Bitwise
Bitcoin
Source Link:
https://news.bitcoin.com/bitwise-bitcoin-will-have-a-great-next-12-months/
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Original Article Link:
https://www.bitpush.news/articles/6635385
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