Good Morning & Happy Friday! How was your halving? It was probably better than the latest GDP numbers that came out yesterday and were sharply lower than investors expectations. US GDP growth came in at a 1.6% annualized pace, much lower than the 2.5% expectations.
Crypto actually recovered some of last week’s losses and stayed pretty consistent over the last few days. Bitcoin has stayed put to finish the week relatively flat, even after the halving. So what’s next for bitcoin’s price? What usually happens? Read more on that in the next section. And don’t forget some of our favorite liquidity pools down below!
Bitcoin Halving Completed, Now What?
Well, it happened. While anti-climactic for many, it is a very big deal for the bitcoin ecosystem as miners now receive 1/2 the amount of bitcoin they received a week ago. Since the halving, the price has remained relatively flat.
In the past, this is not relatively unheard of. It’s not some spark event that triggers a massive trading boon. The trend though, is obviously up and up (see below). Typically it is within the next 6ish months that bitcoin goes on a bull run. Some investors claim that this is because the ecosystem needs time to actually feel the effect of the halving on the supply and reward system.
One thing to note though, is none of the other halvings have had this much TradFi money bought into the bitcoin system. In the below chart, we can see that the top ETFs total around $60 billion bitcoin in AUM (AUM in the right column).
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