"Hey, how can investors not be dizzy if the price of BTC is dizzy and doesn't know where to go."
The much-anticipated Bitcoin (BTC) halving event was finally completed last Saturday, but the movement showed a bit of a disappointment as the price only saw a slow climb up to $65,688.
This is because BTC has already reached new all-time highs in the months before the halving compared to before its price going to ATH for several months immediately after the event.
So here it can be seen that the BTC inflation rate has decreased as the move towards a maximum supply of 21 billion continues and so far, more than 19.5 million have been mined leaving less than 1.5 million to be created.
According to Eric Balchunas, ETF analyst Bloomberg Intelligence said that the largest spot BTC ETF in the United States (US) BlackRock during last Saturday was found to have managed to record 69 days of inflows without a single day of outflows.
However, analysts at JPMorgan and Deutsche Bank think the impact of the halving is mostly attributed to the current BTC and there is unlikely to be a big upward movement in the price after it.
The short-term effects of the halving may also be limited to the BTC mining sector only, so a consolidation move could occur when the overall hash rate declines due to shrinking profits.
There is no denying that the situation after the halving is a bit disappointing, but Crypto.com Chief Executive Officer (CEO) Kris Marszalek predicts that the price of BTC will see a great performance in the next six months.
As of this writing, BTC price has plunged by 1.09% to $64,791 in the past 24 hours with a market capitalization of over $1 trillion and a further 1.06% decline over the past week.
