04/23/2024
Bitwise Asset Management reiterated its bullish view on Bitcoin. Ryan Rasmussen, a researcher at the asset management firm, published his views on the future of Bitcoin following the cryptocurrency’s fourth halving on Schwab Network on Monday.
Ryan explained that historically, what happens to miners after halvings is that you see some consolidation across the industry. Some miners are not prepared for the new economics of the mining industry in the post-halving cycle. From a price perspective, what we typically see is that the year before the halving and the year after the halving are the best years for Bitcoin in a three- or four-year cycle, and that's already happening.
He noted that while there was no guarantee the same would happen in the future, he emphasized that we had certainly had a good year leading up to the halving. We bounced off the 2022 lows, had a great 2023, we're off to a great start in 2024, and I do think we'll continue to test higher highs in 2024 and next year after the halving.
