In the runup to prior halving iterations, $BTC has scaled new highs in the months following the reduction in the crypto asset's rate of issuance.

Recently it reached a new all-time high before the current cycle's halving event for the first time. Analysts at Coinbase warn the market could be placing undue importance on price movements around halving without taking into account the context of broader market conditions.

“The performance of bitcoin around previous halving events was most likely context-dependent. That may explain why price trends during different cycles have varied so widely,” wrote in a March report.#HalvingEffect #prediction2024