The price of bitcoin has spiked over 60% this year, and analysts hold the view that there is a question of whether the anticipated halving event is already reflected in the currency value. The confirmed halving which is expected to happen in less than five weeks from now will cut rewards in half from 6.25 to 3.125 bitcoins for each block.
As some analysts suggest, the manifold might have taken the halving into account and therefore it is already reflected in the price of bitcoin. JPMorgan too has made such projections, arguing that the price may indeed fall down to the $42,000 mark after the event of halving has been completed.
On the other hand, past patterns provide sufficient evidence to dismiss that hypothesis. The past three consecutive halving episodes seem to confirm the same trajectory in Bitcoin’s (BTC) price. Proponents hold a totally opposite view and state that price is not always reflected hours before the event.
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