Summary
TLDR: Bitcoin halving is considered bullish as it reduces the pace of supply growth, leading to a potential price increase. Past halvings have resulted in significant price surges over the following year.
Key Points
1. Halving is seen as bullish because it reduces the rate of supply growth, potentially leading to a demand-supply imbalance that favors price increases.
2. Historically, Bitcoin has experienced significant price rallies in the 12-18 months following previous halving events in November 2012, July 2016, and May 2020.
3. The assumption is that as long as demand remains steady or increases, the reduced supply due to halving can drive up the price of Bitcoin.