The US’s biggest cryptocurrency exchange Coinbase has spoken about the upcoming Bitcoin halving and its possible impact on the price.
In a report released on Wednesday, March 20, Coinbase commented on the Bitcoin halving expected to occur in mid-April.
Historically, the exchange pointed out that Bitcoin has risen before and after halvings, but warned about macroeconomic factors. It emphasized that there have only been 3 halvings so far, making data limited for predictions.
While expecting a surge after the halving, Coinbase cautioned about the serious impact of major factors such as US interest rates, geopolitical conflicts, and potential pandemics:
While a positive effect on Bitcoin’s performance after the halving seems possible, the limited historical evidence makes the situation somewhat speculative.
Looking back, Bitcoin rose 91 times after the 2012 halving, 33 times after the 2016 halving, and 6 times after the 2020 halving. These increments were spread over months-long periods.
