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Bitcoin Halving
The Bitcoin (BTC) halving, which occurs every four years, is known to be an important event in the cryptocurrency market. Historically, three previous reductions in new BTC supply led to price increases in the following months.
Clem Chambers, CEO of Online Blockchain, describes the halving as a very important and strategic force in the Bitcoin world. “This represents a fundamental shift driven by the principle that ‘code is law,’ as opposed to the complexities associated with ETFs that meddle with people's whims,” the CEO said.
Chambers also noted that the halving is an immutable event, independent of human intervention, immune to conflicting opinions, hiccups or change in policy. “The significance of this fact for me is that it has much larger implications on the price dynamics of Bitcoin,” he added.
Referring to the impact of the previous halving, Chambers stated that this created an effect that pushed Bitcoin into a vertical rise. However, he believes that the current Bitcoin market reflects increasing efficiency where the effects of such events are integrated into price dynamics.
