"Expert Warns Against Overestimating Bitcoin Halving's Impact on Price Predictions"
Goldman Sachs cautioned against relying solely on previous Bitcoin halving cycles for price predictions, citing the influence of macroeconomic conditions. While previous halvings were followed by price appreciation, the time taken to reach all-time highs varied significantly. The current macro environment, characterized by high inflation and interest rates, differs from previous cycles. The bank emphasized the importance of supportive macro conditions for history to repeat itself. Additionally, the medium-term outlook for Bitcoin depends on the uptake of spot ETFs, with some analysts suggesting that the usual post-halving surge may have been brought forward due to inflows into ETFs, potentially leading to a sell-the-fact pullback after the upcoming halving.
