Bitwise: It is anticipated that Bitcoin will continue to test higher highs in the next 12 months
Bitwise Asset Management reaffirmed its positive outlook on Bitcoin. The asset management company's researcher, Ryan Rasmussen, shared his views on the future of Bitcoin after its fourth halving on Schwab Network this Monday. Ryan explained that historically, what happens to miners after a halving is that you see some consolidation in the entire industry. Some miners were not prepared for the new economic conditions in the mining industry during the post-halving cycle. From a price perspective, what we usually see is that one year before and one year after each halving are when Bitcoin performs best within a three or four-year cycle, and this has already happened. He pointed out that while it can't be guaranteed to happen again in the future, he emphasized that we certainly had a good year prior to the halving. We rebounded from our low point in 2022 and had a great 2023; we started off well in 2024 and I truly believe we will continue testing higher highs throughout 2024 and into next year following the halving.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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