Bitcoin halving takes place in less than two weeks
Many enthusiasts expect the event to be a Bitcoin price growth catalyst. Yet, some traders don’t believe so.
Some traders even find halving irrelevant in terms of Bitcoin price growth. They rather focus on macroeconomic indicators, including unprecedented central bank monetary policies, that many major central banks plan to implement. These changes may impact bitcoin’s price in upcoming months and years.
“Most investors are just spinning their wheels discussing the bullish effect,” Matthew Kaye, managing partner at Blockhead Capital, told CoinDesk. He says that people believe that Bitcoin demand will grow, and as Bitcoin mining will cut after halving, it will lead to price rocket growth.
“The increased demand caused by halving is rather insignificant in comparison to other volumes of traded crypto markets,” Francis Pouliot, CEO of Canadian over-the-counter bitcoin exchange Bull Bitcoin, told CoinDesk.com. He himself sees rather long-term reasons for Bitcoin growth as other assets might be undervalued. Bitcoin halving will takenplace on 12th May, when Bitcoin mining drops to its half.
