Bitcoin price is trading above $60,000, putting it within striking distance of setting a new all-time high. This would be an unprecedented move for the top Cryptocurrency by market cap, which historically has only made a new price record only after each halving event.
Could BTC set a new record in more ways than one: by reaching a new all-time high before the halving for the first time ever? Let’s take a look at the data.
Why the Bitcoin halving is important
The Bitcoin halving is one of the most anticipated and impactful events for the Cryptocurrency. It reduces the supply of new coins entering circulation. The halving cuts the reward miners receive for processing blocks in half. This means fewer new BTC are created over time, making the supply more scarce.
Reduced supply paired with steady or increasing demand can lead to higher prices according to economic principles. Many investors see halvings as potential catalysts for bull runs. However, this time around, there ar
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