The Coinbase report states that it is still difficult to predict the consequences of the bitcoin halving, which will take place in 2024.
Many experts predict that reducing the reward of miners for block mining will have a positive impact on the value of BTC. However, Coinbase believes that it is impossible to form a model of cryptocurrency behavior without taking into account external factors.
The first halving took place in 2012. Subsequent halvings were held in 20126 and 2020. The reduction of the miner reward in 2024 will be halved from 6.25 BTC to 3.125 BTC.
David Duong, head of Coinbase’s research division, recalled that previous halvings were influenced by external factors such as fiscal policy and consumer inflation.
The expert emphasized:
We assume that the next halving in 2024 may have a positive impact on the value of the coin. However, we believe that forecasting the consequences of this event is speculative in nature.