Bitcoin’s price has risen by more than 60% this year, and analysts debate if the anticipated halving event has already been represented in the currency’s value. The verified halving, which is due in fewer than five weeks, will reduce payouts from 6.25 to 3.125 bitcoins every block.
According to some observers, the manifold may have already factored in the halving, which is reflected in the price of bitcoin. JPMorgan has also made such estimates, suggesting that the price may go as low as $42,000 after the halving event is accomplished.
On the other hand, prior trends provide enough data to reject that hypothesis. The previous three successive halving incidents appear to confirm the same trend in Bitcoin’s (BTC) pricing. Proponents take the contrary position, claiming that prices are not always reflected hours before an event.
