Bitwise CIO Matt Hougan, sees the Bitcoin halving as a chance for investors, citing previous tendencies of post-halving price rises, according to an interview with CNBC.
“The amount of new supply of Bitcoin coming into the market is being cut in half,” states Bitwise CIO Matt Hougan. An annual supply of $11 billion is being removed. In the long run, I believe that pricing ought to be favorable, and that is what I would anticipate throughout the upcoming year.
Every four years, there is a coded modification known as the “halving” that lowers the supply of Bitcoin and raises prices. Hougan believes that less fresh supply will have a favorable effect on the value of Bitcoin over the course of the upcoming year.
Jeff Hancock, CEO of Coinpass, concurs, emphasizing how Bitcoin has developed into a significant asset that has institutional interest. Hancock thinks a promising future is indicated by the current market cycle and the successful introduction of Bitcoin ETFs.
Institutional demand for Bitcoin is high and might extend to Ethereum ETFs, enabling access to staking incentives and decentralized finance. Despite regulatory obstacles, both analysts predict a positive market for Bitcoin and possible growth for Ethereum.
“Prices of Bitcoin are already approaching all-time highs prior to the halving, which has never happened before,” Hancock stated. I think there is an infinite potential for the bitcoin market in the future.
Growing investor trust in cryptocurrencycurrency is reflected in the rise of spot Bitcoin ETFs, which now have over $60 billion in assets. Beyond 2024, Hancock sees institutional interest in cryptocurrencycurrencies continuing.
