Zhao Changpeng talks about Bitcoin "halving": it will not cause the price to skyrocket overnight

Changpeng Zhao, former CEO of Binance, believes that Bitcoin "halving" is different from stock splits, emphasizing that the understanding of cryptocurrencies is still in its infancy.

Changpeng Zhao answered a question about Bitcoin halving on social media on Friday. He said: "Someone asked me if Bitcoin halving is like a stock split... We are too early. (The answer is no) Happy halving!"

Changpeng Zhao also shared his views on Bitcoin halving published last October. He wrote at the time that in the months before Bitcoin halving, discussions, news reports, anxiety and expectations around Bitcoin usually increase.

However, after the halving, the price of Bitcoin did not soar overnight. Despite this, the price of Bitcoin often reached multiple historical highs in the year after the halving, prompting people to wonder about the reasons behind it. Changpeng Zhao emphasized that while there may be no proven causal relationship between halving and price movement, history does not necessarily predict the future.

Bitcoin halving is a pre-programmed mechanism that fundamentally affects the mining economy and may shape the future price and ecosystem of Bitcoin. The upcoming halving event is the fourth of its kind and is scheduled to take place around April 20, 2024. The event will cut the reward for Bitcoin miners from 6.25 Bitcoins to 3.125 Bitcoins.

In contrast to a stock split (which increases the number of shares of a company without changing its market value), a Bitcoin halving reduces the rate at which new tokens are created, effectively limiting the supply of the cryptocurrency

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