## Bitcoin Halving Approaches, Market Awaits Impact with Measured Expectations

As Bitcoin’s halving event nears, market anticipation for a bullish surge is palpable, yet analysts caution against expecting immediate effects.

According to CryptoNews on the 17th, asset management firm Bitwise indicated that historical data does not necessarily support the widespread expectation of an instant bull market following the halving. Despite the excitement surrounding the event, Bitwise’s analysis suggests a more nuanced outcome.

Bitwise noted that the month following a halving typically sees a slight drop in Bitcoin prices, whereas the subsequent year often witnesses exponential growth. For instance, after the 2012 halving, Bitcoin experienced a modest rise of 9 percent in the next month but skyrocketed by 8,839 percent over the following year.

Similar patterns were observed after the 2016 and 2020 halvings, with significant price increases occurring in the year following each event. Bitwise’s findings imply that the market tends to undervalue the long-term impact of the halving while focusing on short-term volatility.

Industry experts also foresee potential challenges immediately after the halving. Marcus Thielen, head of research at 10x Research, predicted that a $5 billion sell-off by miners post-halving could exert downward pressure on the market.

Fred Thiel, CEO of Marathon, suggested that the anticipated rally post-halving might already be priced into the current Bitcoin value.

Recent market indicators have also raised concerns about potential corrections. Analyst and trader Rekt Capital explained that there have been significant pullbacks ranging from 18 percent to 23 percent since the bear market bottom of 2022.

As of the morning in New York, Bitcoin was trading at $62,227, down 1.3 percent from 24 hours earlier, according to CoinMarketCap.