Bitcoin Analyst: 2024 Halving Unlikely to Spark Major Rally Like Previous Ones

Upcoming Bitcoin halving in 2024 is unlikely to cause a bull run like previous ones, says analyst Nicholas Merten.

Halvings cut mining rewards in half, reducing new BTC supply entering market.

Next halving reduces rewards from 6.25 to 3.125 BTC per block, or $4.4B less annually.

This is a small reduction compared to Bitcoin's $523B market cap, so unlikely to catalyze major rally.

At current prices, halving means $12M less in potential daily miner sales, still small vs total market cap.