Binance exchange CEO #Richard Teng stated that the upcoming halving is happening amid special circumstances. Teng linked the upcoming developments to the following elements:
The approval of spot #bitcoin-ETFs, which has seen significant funds flow into the industry; the growing popularity of Tier 2 solutions; and the encouragement of the #DeFi sector in the bitcoin ecosystem, influenced by the popularity of the #Ordinals protocol. According to the #Binance CEO, historically, there has been a six-month post-halving price increase. It is noteworthy that Teng's conclusions coincide with the results of a study conducted by CoinGecko experts.
Nevertheless, the exchange chief emphasized that there are many variables to consider:
"While the aforementioned factors paint a promising picture for bitcoin and the entire cryptoasset market, it is crucial to manage the expectations of investors, especially those new to the scene."
Teng emphasized that expecting an immediate price change immediately after a halving is unlikely. He places more importance on indirect benefits such as wider adoption.
As a reminder, bitcoin halving is expected on April 20, 2024. We look forward to seeing what lies ahead!
