Bitcoin Price Poised for Post-Halving Surge? Bitwise Sees Miner Shakeout as Opportunity

Bitwise Maintains Bullish Stance on BTC, Expects Continued Price Rise

Bitwise Asset Management has reiterated its positive outlook on Bitcoin. Ryan Rasmussen, a researcher at the firm, shared his insights on the future of cryptocurrency during an appearance on the Schwab Network  following its fourth halving.

He explained that historically, following the halving, there tends to be some consolidation within the mining industry as some miners struggle to adapt to the new economic realities of mining in a post-halving cycle.

Sharing his outlook on Bitcoin prices, he described  how typically, the year leading up to the halving and the year following it tend to be the best performance years for Bitcoin over its three or four-year cycles, a pattern observed in the past three halvings.

While he noted that there’s no guarantee this pattern will repeat in the future, he emphasized the strong performance leading up to this halving:

“We certainly have a great year running up to this halving. We bounced back from those lows of 2022, had a great 2023, we’re off to a great start in 2024, and I do think that we’ll continue to test higher highs here in 2024 and the next year following the halving. I think we’re just getting started and Bitcoin is going to have a great next 12 months.”