The anticipated Bitcoin halving on April 20 will occur amidst significant events in the cryptocurrency ecosystem, according to Binance CEO Richard Teng, as reported by The Block.
The executive noted that historically, digital gold has appreciated within six months following each halving event, but the dynamics depend on numerous factors.
“In addition to the approval ofETFs, which has spurred institutional interest and participation, it is important to highlight the boom in L2 and DeFi activity on the Bitcoin network, fueled by the popularity of the Ordinals and inscriptions protocol,” he added.
Teng emphasized that opportunities for further growth depend on a range of factors.
“Despite the optimistic outlook, it is important for investors […] to manage their expectations. Immediate price shifts due to the halving are not justified. Its fundamental significance will manifest in longer-term trends in value, liquidity, adoption, and the recognition of cryptocurrencies as an asset class,” he warned.
Earlier, JPMorgan analysts suggested a potential decline in Bitcoin following the halving of miner rewards.
Coinify CEO Rikke Staer predicted that the price dynamics of digital gold post-halving will follow the principle of “buy the rumor, sell the fact.”
In April, the ForkLog team held the AllTimeHalf 2024 online forum in honor of the halving, featuring developers, entrepreneurs, enthusiasts, and visionaries. Recordings are available on their YouTube channel.
We also recommend exploring the event-related research by CoinGecko and Binance.