The Bitcoin “Mid-Halving” event is approaching…Here’s what to expect
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Answer The Bitcoin “Mid-Halving” event is approaching…Here’s what to expect
Undoubtedly, the quadrennial Bitcoin mining reward split (similar to the FIFA World Cup event with more anticipation from the crypto community 🙂) is an important event.
There is an event in the middle of these divisions.
The mid-event is the mid-point between the last fork and the next which is called the “Mid-Halving” Bitcoin mining reward event which will be this time in mid-April 2022.
Historical data:
Data platform Santiment highlighted every point between the splits the market has already seen.
According to the chart, each “mid-halving” event is marked as the Bitcoin price spike before it, after which the Bitcoin drops in value until the next fork.
Read:Bitcoin and if this resistance is broken…$50,000 will be imminent!
The “Santiment” platform also indicates that the market is facing a correction before the next halving.
🤑 last # bitcoin The halving occurred in May, 2020. After sudden spikes, historically price tops occur 515 to 545 days later BTC dollarsThe show was cut in half, causing even more rarity. Next week we are set to see an event in the middle of the halving. Read what’s happening historically! 👀 pic.twitter.com/eTp9cDNgoO
– Santimentfeed 4 April 2022
The company’s analysis is based on data from previous cycles, during which Bitcoin struggled to break important resistances, enter a growth phase and performed positively overall.
Experts also note that it is not yet clear whether Bitcoin will follow the same pattern as it did before, as it is still in the uptrend that started in mid-March.
Will the cycles be broken?
The crypto market is changing day by day, there are many events and news whose impact has become weaker than it was earlier.
Analyst Willie Wu notes that the split event may not have the same impact on the market and industry due to the massive institutional flows we saw in 2021.
Read:Galaxy Digital raises $32 million in Ethereum funds
According to his hypothesis, Bitcoin is no longer a purely retail asset paid mostly by small investors.
Currently, the bulk of the Bitcoin price performance is concentrated in the hands of large financial institutions and projects such as the “Terra Foundation” which has purchased $1 billion worth of Bitcoin since only last January.
As the share of institutional money in the circulating supply of Bitcoin increases, the split event may not have the same effect.
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