The upcoming Bitcoin halving is seen as a potential catalyst for the next bull market. However, the current annual issuance rate is already at a meager level of 1.6%, and nearly 94% of Bitcoins are already in circulation, so the expected supply shock from the halving may have little impact on Bitcoin prices.
Nevertheless, the continuously growing demand will be the primary driver of price surges. A bull market may still occur post-halving. Additionally, the halving has brought more attention to Bitcoin. We can see various news about the halving event. But how long can this marketing last?
That question is very controversial. Halving definitely is a triggering factor for a bull market, but the current trend of the market, especially its instability at this very end, is making it look like the halving is going to have the minimum effect on the BTC price. It’s like technical and fundamental analysis are contradicting each other.
I think we’re in a place of the unknown, don’t you think? The interest is different, ETFs are the game changer, more buyers will come into the space, because now the flood gates are open. Nobody wants to be left behind.