Hannah Phung, a lead analyst at on-chain analytics platform <\/span>SpotOnChain<\/span><\/a>, lately gave her opinion on the impression that Bitcoin Halving may have on the flaghsip crypto\u2019s worth. This provides to the continuing debate on whether or not or not the Halving occasion may trigger <\/span>Bitcoin\u2019s price to rise to $100,000<\/span><\/a>.\u00a0<\/span><\/p>\n Phung talked about throughout an <\/span>interview<\/span><\/a> with BeInCrypto that Bitcoin\u2019s worth tends to extend round 6 to 12 months after the <\/span>Halving<\/span><\/a> and never instantly. This is clear from the previous Halving occasions, as Bitcoin\u2019s <\/span>significant price gains<\/span><\/a> took place one yr after the Halving had occurred. After the primary Halving on November 28, 2021, Bitcoin noticed a worth improve of over 8,000% one yr after the occasion.<\/span><\/p>\n \u00a0<\/p>\n Meanwhile, BTC noticed a worth improve of 284% and 559% one yr after the second and third Halving occasions, which came about on July 9, 2016, and May 11, 2020, respectively. Phung additional famous that Bitcoin\u2019s worth good points come from the discount in <\/span>Bitcoin miners\u2019 supply<\/span><\/a>, which helps improve shortage and drive up its worth, particularly when demand is secure.\u00a0<\/span><\/p>\n In February, NewsBTC <\/span>reported<\/span><\/a> that Bitcoin\u2019s demand was far outpacing the miners\u2019 provide. This led to a number of crypto analysts making bullish predictions that Bitcoin\u2019s worth may improve exponentially when miners\u2019 rewards are additional lower in half later this month. One such analyst was MacronautBTC, who raised the potential for Bitcoin rising to $237,000.\u00a0<\/span><\/p>\n Despite the crypto market being recognized to observe <\/span>historical patterns<\/span><\/a>, Phung emphasised that the market can be unpredictable, opening the potential for this Halving being totally different from previous ones. Moreover, this cycle has already confirmed totally different, contemplating that for the primary time, Bitcoin hit a <\/span>new all-time high (ATH<\/span><\/a>) earlier than the Halving.\u00a0<\/span><\/p>\n Furthermore, the analyst acknowledged that the Bitcoin market is \u201cmuch larger and more established compared to earlier halvings.\u201d However, Phung nonetheless expects a worth improve after the halving, though she admitted that the precise timing is unsure, that means it may very well be earlier and even later than typical.\u00a0<\/span><\/p>\n Crypto analyst Rekt Capital<\/span><\/a> additionally echoed an identical sentiment about how issues may very well be totally different this cycle when he shared his <\/span>analysis<\/span><\/a> of the 5 phases of the Bitcoin Halving. Specifically, he acknowledged that the Re-accumulation section \u201cmay not last very long before additional uptrend continuation\u201d since that is the primary time the Re-accumulation vary will likely be round a brand new ATH.\u00a0<\/span><\/p>\n Phung additionally elaborated on how the market sentiment after the halving may present insights into Bitcoin\u2019s future trajectory. She predicts that <\/span>crypto investors<\/span><\/a> will seemingly be bullish as soon as the halving takes place, contemplating the importance of the occasion on Bitcoin\u2019s provide.\u00a0<\/span><\/p>\n However, as soon as the joy concerning the halving wears off, a number of metrics, similar to worth charts, buying and selling quantity, social media discussions, and on-chain knowledge like energetic addresses or <\/span>exchange supply<\/span><\/a>, will have to be analyzed to find out whether or not or not buyers are nonetheless bullish.\u00a0<\/span><\/p>\n Meanwhile, Phung recommended that the worth surge that happens instantly after the Bitcoin halving is probably not shortlived this time round since extra <\/span>institutional investors<\/span><\/a> at the moment are concerned and have helped create a \u201cmore mature market.\u201d<\/span><\/p>\n Featured picture from Bitcoin News, chart from Tradingview.com<\/p>\n Disclaimer: The article is offered for instructional functions solely. It doesn’t signify the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You are suggested to conduct your individual analysis earlier than making any funding selections. Use data offered on this web site completely at your individual danger.<\/p>\n<\/p><\/div>\nBitcoin\u2019s Price Surge Might Not Come Immediately<\/h2>\n
![\"Bitcoin\"](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/04\/Bitcoin_4fef0a.png?w=460&resize=460%2C199\")
<\/p>\nSource: Milk Road<\/span><\/i><\/a><\/pre>\n
This Bitcoin Halving Could Be Different<\/h2>\n
Market Sentiment Could Determine Bitcoin\u2019s Price Post-Halving<\/h3>\n
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BTC worth rises to $70,700 | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n