A cryptocurrency analyst thinks that the drop in Bitcoin price is not unexpected.
Bitcoin, which was traded at approximately $64,000 during the halving on April 20, lost 11% of its value after the halving.
Some investors predicted that the BTC price would rise as the amount of Bitcoin produced daily dropped by half. Bitcoin started a rally within the first year of the previous three halving periods.
Mati Greenspan, founder of Quantum Economics, thinks this halving is different from others. "What made the latest Bitcoin halving unique was the extraordinary bull run and price action that preceded it. Even accounting for a recent pullback in price, Bitcoin has gained 35% since the beginning of the year," Greenspan said. said.
Greenspan added that "Given the expectation that the Fed will change policy again and what is happening in the stock markets, the price movement in Bitcoin is not much of a surprise."
Analysts think Bitcoin is gaining value thanks to demand for spot ETFs ahead of the halving. But the flow of money in these funds has been slowing for several weeks.
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