Bitcoin halving was ‘not priced in’ despite recent correction, analyst says | Headlines | News | CoinMarketCap
04/26/2024 22:49
The bitcoin halving that occurred this past Saturday has not yet resulted in the expected price increase stemming from the subsequent supply crunch. …
The bitcoin halving that occurred this past Saturday has not yet resulted in the expected price increase stemming from the subsequent supply crunch. Instead, the world's largest digital asset by market cap has fallen by over 7% in the past seven days, according to The Block's Price Page.
However, one analyst suggests that the recent price correction is due to uncertainty in the macroeconomic environment rather than being the result of a sell-off now that the effects of the bitcoin halving have been priced in for several weeks.
"I think the correction we are witnessing is macro-driven and also visible in U.S. tech stocks. It is a combination of repricing higher in U.S. rates and the start of tech earnings disappointing investors' expectations," Nansen.ai Principle Research …