Summary
TLDR: Bitcoin is currently down ahead of the halving, trading at under $63,000 per coin. However, historical data suggests that the price of Bitcoin typically goes up following the halving event, and investors are moving their coins to cold storage in anticipation of a price rise. After the last halving in May 2020, Bitcoin experienced a bull run and reached $69,044 by November 2021.
Key Points
1. Bitcoin is currently trading for under $63,000 per coin following a significant sell-off over the weekend.
2. Bitfinex suggests that looking at historical data from 2020 is crucial to understanding how the upcoming halving event will impact Bitcoin’s price.
3. The report indicates that Bitcoin’s price typically goes up after each halving event, with investors moving their coins to cold storage in anticipation of a price rise.