While the Bitcoin halving event is often seen as a major driver of bull markets, there are indications that the next halving in April 2024 may not have the same impact. The halving, which occurs every four years and reduces the rate at which new Bitcoin is created, is not a guaranteed catalyst for price appreciation. If there is not significant demand to accompany the reduced supply, prices are unlikely to surge. Additionally, the halving is a predictable event, meaning that its impact may already be priced into the market before it happens. Bloomberg analyst Mike McGlone suggests that the anticipated impact of the halving may not materialize as expected. Furthermore, with each halving, its impact on new Bitcoin supply decreases, making changes in demand a more influential factor in Bitcoin’s price. The Cointelegraph Report on YouTube provides further insights into how the next halving may impact the crypto market and explores other catalysts behind Bitcoin’s cyclical upside moves.
