Posted 2/12/2024, 12:26:11 PM
Bitcoin Faces Uncertain Price Impact From 2024 Halving Due to New Demand Drivers
- Grayscale report predicts 2024 Bitcoin halving will play out differently due to new steady demand from Bitcoin ETFs counterbalancing mining sell pressure
- Past Bitcoin price increases after halvings coincided with macro events; this time impact is uncertain
- Miners are well-prepared for financial hit of halving through fundraising and selling holdings
- Bitcoin ordinal inscriptions represent new path to sustain network security via fees as block rewards decline
- Grayscale's GBTC saw outflows after conversion to spot BTC ETF while rivals saw inflows, though GBTC outflows now slowing