While the halving is associated with Bitcoin price rallies, the current rally is mainly driven by ETF inflows, according to Bybit’s Yang.
While the halving is associated with Bitcoin bull cycles, the current rally is mainly driven by ETF inflows, argues Bybit’s Yang.) rallied approximately 650% since the last Bitcoin halving in 2020. If history repeats, Bitcoin could reach the $435,000 price level before the 2028 halving.Bitcoin price rose around 658% since the last Bitcoin halving in 2020, according to TradingView data, currently trading around the $66,000 mark.will happen in less than three weeks.
Nonetheless, Bitcoin’s post-halving rallies have seen diminishing returns throughout the years. Until the first halving in 2012, Bitcoin increased from having virtually no value to $12.5, an over 12,400% increase. Bitcoin price gained 5,200% to $650 by the 2016 halving and 1,200% to $8,500 by the 2020 halving.Thus, Bitcoin’s average price rallies fell by 45% each cycle to the current 658%.
A six-figure BTC price appears even more possible if Bitcoin ETFs overtake gold ETFs, which is something that could happen in the next two years,Additionally, Bitcoin ETFs are growing at a much quicker pace than gold ETFs did when they first appeared in 2004. In fact, Bitcoin is “speedrunning” gold’s price by fivefold, says Sam Wouters, the head of contact at River, who wrote in a March 29
“Bitcoin is basically just 5x speedrunning gold's trajectory. The last 10 years of Bitcoin look a bit like a squished version of gold's last 50. No wonder some people get salty.” This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Ethereum’s ERC-20 design flaws are a crypto scammer’s best friend
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