[Former Binance CEO shares popular views on Bitcoin halving]
Former Binance CEO CZ recently posted on the X platform in response to questions about the upcoming Bitcoin halving. This halving is expected to further increase Bitcoin’s scarcity.
CZ went back to his previous tweets to share his thoughts on the Bitcoin halving. He pointed out that in the past year after halvings, Bitcoin prices have often risen significantly. Although the increase won't be immediately apparent, he cautioned everyone not to expect a doubling overnight. At the same time, he also stated that he does not make specific price predictions.
Recently, in response to a question from a cryptocurrency enthusiast, CZ made it clear that Bitcoin halving is completely different from a stock split, emphasizing that this shows that the public’s understanding of Bitcoin’s underlying mechanism is still in its infancy.
Experts, including Samson Mow and Anthony Pompliano, consider the halving to be a key driver of future Bitcoin price increases. Since the production of new Bitcoins will be cut in half, this will be a shock to the supply. Additionally, demand will be rocked as the recently approved spot Bitcoin ETF begins to accumulate more Bitcoin than miners produce on a daily basis.
When these two shocks meet after the halving, as Samson Mow said, Bitcoin may usher in a so-called “Omega candle”, potentially pushing the price to $1 million. Currently, Bitcoin price is trading at $64,621 levels after experiencing a significant rise.
