{"id":45741,"date":"2023-08-08T03:17:00","date_gmt":"2023-08-08T07:17:00","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/bitcoin-halving-events-helped-crypto-rally-before-but-maybe-not-this-time\/"},"modified":"2023-08-08T03:17:02","modified_gmt":"2023-08-08T07:17:02","slug":"bitcoin-halving-events-helped-crypto-rally-before-but-maybe-not-this-time","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=45741","title":{"rendered":"Bitcoin halving events helped crypto rally before, but maybe not this time\u00a0"},"content":{"rendered":"
\n

Crypto investors hoping that bitcoin\u2019s coming halving event could trigger a rally of the coin\u2019s price may be disappointed, according to Kaiko Research.\u00a0<\/p>\n

Bitcoin has been stuck under $30,000 for the past few weeks, but a past catalysts for its rally might not work this time, Kaiko Research said on Monday.<\/p>\n

\n

Bitcoin
\n BTCUSD,
\n +0.13%<\/bg-quote>
\n halving refers to a process where a block reward is given to crypto miners after every 210,000 blocks are mined, or about every four years. The crypto has gone through three halvings in history, and the next one is expected to happen in April or May next year.\u00a0<\/p>\n

Historically, bitcoin has seen price appreciation take hold months after halvings, but the rallies have gradually diminished over the years, as the crypto market matures, according to the analysts at Kaiko.\u00a0<\/p>\n

<\/p>\n
<\/p>\n
<\/div>\n<\/figure><\/div>\n

\u201cBefore previous halvings, BTC saw significant volatility in the months leading up to the event. However, so far, there hasn\u2019t been a notable increase in leverage or trade volumes, which may indicate that traders are not heavily positioning for the upcoming halving at this stage,\u201d the analysts wrote. <\/p>\n

Read:<\/strong> Bitcoin to reach $50,000 by year-end, but top $100,000 by end of 2024, says Standard Chartered strategist<\/p>\n

Bitcoin has gained over 70% so far this year, but is still down almost 60% from its record high in 2021, according to CoinDesk data. <\/p>\n

Meanwhile, halvings may not necessarily lead to any crypto\u2019s price appreciation, noted the analysts. <\/p>\n

Another cryptocurrency Litecoin
\n LTCUSD,
\n +0.60%<\/bg-quote>
\n went through a halving event last week. However, different from many investors\u2019 expectations, the coin fell over 10% since Aug. 2, when the halving was completed, according to CoinDesk data.\u00a0<\/p>\n

Litecoin performed in line with the broader crypto market or underperformed after its previous halvings in 2015 and 2019, analysts at Kaiko noted.\u00a0<\/p>\n

\u201cThis suggests that halvings [for Litecoin] have been \u2018buy the rumour, sell the news\u2019 events rather than significant price catalysts,\u201d noted the analysts.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Crypto investors hoping that bitcoin\u2019s coming halving event could trigger a rally of the coin\u2019s price may be disappointed, according to Kaiko Research.\u00a0 Bitcoin has been stuck under $30,000 for the past few weeks, but a past catalysts for its rally might not work this time, Kaiko Research said on Monday. Bitcoin BTCUSD, +0.13% halving […]<\/p>\n","protected":false},"author":1,"featured_media":45742,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-45741","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBitcoin halving events helped crypto rally before, but maybe not this time\u00a0 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Crypto investors hoping that bitcoin\u2019s coming halving event could trigger a rally of the coin\u2019s price may be disappointed, according to Kaiko Research.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=45741\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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