QCP Predicts Delayed Post-Halving Impact on Bitcoin

Bitcoin optimists will need to wait at least two months to assess the impact of the reduced reward for miners per block. This was reported by analysts at QCP Capital.

“In previous years, the spot price only grew exponentially 50-100 days after each of the three halvings. If this pattern repeats, Bitcoin bulls still have weeks to build a larger long position,” the report states.

Experts at Bitfinex believe the post-halving supply constraint will stabilize the price of the leading cryptocurrency and may contribute to its growth.

“The reduction in the rate of Bitcoin issuance post-halving, valued at $30-40 million daily, sharply contrasts with the average daily net inflow of $150 million into spot ETFs. This highlights a significant demand-supply imbalance that could drive further price increases,” noted the Bitfinex report.

According to analysts, the market’s reaction to the first cryptocurrency amid tensions in the Middle East and beyond is crucial. It provides important insights into “Bitcoin’s long-term viability as digital gold.”

Bitfinex representatives also forecasted a stabilization in the ETF segment following recent outflows.

Back in April, Bitcoin’s network underwent its fourth halving, reducing the block reward from 6.25 BTC to 3.125 BTC.