Bitwise Asset Management reiterated its positive view on Bitcoin. Ryan Rasmussen, a researcher at Bitwise, expressed his outlook on the future of Bitcoin after its fourth halving in an interview on the Schwab Network on Monday.
Ryan explained that historically, after a halving, the mining industry tends to undergo consolidation. Some miners are not prepared to adapt to the new economic conditions in the post-halving period. From a price perspective, it is often observed that the year before and the year after a halving are the best-performing years for Bitcoin in a three- to four-year cycle, and this pattern has already occurred.
While he acknowledged that there is no guarantee that the same pattern will occur in the future, he emphasized that we have certainly had a great year leading up to the halving. We rebounded from the low point in 2022, had a fantastic 2023, and started 2024 on a positive note. I do believe that we will continue to test higher highs in 2024 and the year after the halving.
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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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