Bitfinex expects demand for Bitcoin to be 5 times greater than supply after halving
The recent halving of Bitcoin mining rewards has changed the market and may lead to a demand for cryptocurrencies that is five times greater than the supply. On Saturday, the reward paid to miners per block was reduced from 6.25 BTC to 3.125 BTC. According to Bitfinex's forecast, the halving of rewards means that the nominal value of daily new supply may drop to $30 million. This is a significant decrease, equivalent to five times the daily demand for the US Bitcoin ETF.
Data from Glassnode shows that since the halving, daily new supply has dropped from an average of about 900 BTC (approximately $7.5 million) to 450 BTC (approximately $3 million).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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