According to the research of blockchain analysis firm Glassnode, this year’s halving will be different from previous years.
The amount of Bitcoin in circulation will be halved in the coming hours with the halving event. After the three previous halving events, Bitcoin’s price has shown at least a 200% increase.
The research by Glassnode suggested that the conditions of this year are different compared to previous years. The report stated, “This difference is largely due to increased institutional demand and widespread adoption of Bitcoin ETFs.”
Based on the data before the halving, Bitcoin miners are producing approximately 900 Bitcoins per day. However, much more BTC is entering ETFs every day.
Glassnode analysts said, “The flow of money into ETFs significantly affects existing Bitcoins and the demand for them, and is expected to continue to affect them in the foreseeable future.”
Analysts who think that this could reduce the historical impact of halving added that tracking ETF trends could be beneficial for investors.
