As the cryptocurrency community gears up for the highly anticipated Bitcoin halving around April 20, opinions are divided on its immediate and long-term impact.
In a recent blog post, Arthur Hayes expressed his belief that while the halving might eventually pump prices in the medium term, the asset could slump both before and after the event.
Unexpected Market Movements
He emphasized that while the halving is often viewed as a bullish catalyst, the consensus around its positive impact could lead to unexpected market movements. “When most market participants agree on a certain outcome, the opposite usually occurs,” he stated.
Hayes pointed out that the halving coincides with a period when “dollar liquidity is tighter than usual,” noting that this could increase market volatility.
According to his analysis, reducing block rewards for miners and tighter dollar liquidity could result in a “firesale” of crypto assets, driving prices downward.
In anticipation of these potential m
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