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😱🔥Bitcoin halving comment from #Bitwise : Its impact is underestimated
"Halving it is great for Bitcoin”
In the analysis, the following statements were used, indicating that the halving of the reward definitely has a positive effect on the Bitcoin price in the end:
“We do not have a lot of data on the short-term impact of the award halves on the price, except for 3 halves. So we can make some intuitive comments in the short term. But the long-term figures show that the halving is great for the Bitcoin price. Bitcoin price in a year after halving;
8839% in 2012
285% in 2016
it increased by 6% in 2020.
Since market prices show short-term effects, we can also say that the long-term effects are actually underestimated by investors. Similarly, Bitcoin spot transaction volumes decreased by an average of 27.78% in the first month after being halved, but increased significantly by an average of 6,580.69% the following year.”
"Miners get most of their income from transactions that they verify in Bitcoin. Therefore, halving these rewards may lead to the idea that halving is bad for miners. However, when looking at the data, it is seen that the miner's revenues increased by an average of 1458% in the year after the halving. And in the month after it was halved, there is a 46% decrease in the condition...”
what did the big miners experience during the 2020 halving?
The report also referred to the half in the last half year of 2020 and focused on the figures of major mining companies during this period:
“the halving in 2020 was actually the first halving experienced by companies listed on the stock exchange in the United States. It is obvious that the revenues of Marathon Digital, Riot Platforms, Hut 8 and Bitfarms companies fell in the quarter after halving (by an average of 46%), but the increase in the Bitcoin price significantly increased the revenues of companies that started using more efficient machines and adapted to the network. later periods. The companies' share prices also performed strongly in the year after halving.”
