Here’s When We Can Expect Bitcoin’s Price Top After the April Halving
The Bitcoin halving event has been scheduled to take place in the next 15 days. Based on historical data, it could trigger a bull run that would last months, setting new price peaks.
Crypto data analytics platform Kaiko believes BTC could record a new top within nine to twelve months after the event on April 20.
Last month, American crypto exchange Coinbase warned that the historical evidence supporting the belief that only the halving event could propel Bitcoin’s rise was limited, making it somewhat speculative. The crypto trading platform insisted that the price of BTC is influenced by other factors, too, and not just the halving.
Per a CryptoPotato report, Coinbase outlined other macroeconomic factors like the U.S. Federal Reserve rate cuts in May, selling pressure from miners and companies emerging from bankruptcy. Another undeniable factor is the spot Bitcoin exchange-traded fund (ETF) market, which has opened doors for the inflow of fresh capital from traditional finance investors into the Bitcoin ecosystem.
Hence, bitcoin’s rise may exceed analysts’ expectations and predictions because the asset can be accessed by a wide range of investors, including institutions.
