Post-halving 2024 market is pushing Bitcoin’s price, not just Trump, says Onramp Bitcoin co-founder
The last Bitcoin halving took place in April when the block reward dropped from 6.25 Bitcoin to 3.125 Bitcoin Jesse Myers said Bitcoin’s price needs to go higher for a “supply-demand price” balance to happen When that occurs, the market will “flywheel into mania and a bubble,” which happened in the 2012, 2016, and 2020 Bitcoin halving events Donald Trump’s re-election into the White House isn’t “the main story” for Bitcoin’s recent price rally, says Onramp Bitcoin’s co-founder. In a post on X, Jesse Myers said the main reason is that the market is at the “6+ months post-halving” mark. Taking place every four years, the last Bitcoin halving occurred in April when the block reward dropped from 6.25 Bitcoin to 3.125. As a result, each new block becomes harder to solve with a lower reward. A reduction in Bitcoin supply typically means an increase in the price of Bitcoin. The next Bitc...