Bitcoin: Peter Brandt believes BTC halving is non-event and way overrated $BTC PeterBrandt
The veteran trader responded that all predictions were just guesses. He predicts Bitcoin is 12 months away from new ATHs.
In response to Peter Brandt's prediction, a Twitter user asked,"Aligns with the halving date, coincidence?" Brandt thus responded,"Halving is way overrated and a non-event."Bitcoin is nearing yet another milestone: its fourth halving event, or the fourth protocol-designed 50% drop in block rewards that happens every 210,000 blocks .
As reported, on-chain analyst and Capriole Fund founder Charles Edwards believes the market is in optimal halving cycle timing where Bitcoin typically bottoms."Like clockwork, Bitcoin has bottomed in the window 12-18 months prior to every halving in the past," Edwards stated, pointing out that January might be the start of the bull market for Bitcoin.
In the third halving epoch, Bitcoin miners receive a reward of 6.25 BTC per block. Around block 840,000, or about May 4, 2024, Bitcoin will go through its fourth scheduled halving, where the per-block reward will be halved to 3.125 BTC.
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