The Bitcoin halving event is awaited by the whole crypto industry. This is a massive move in which the incoming supply will be cut by 50%. Check out the latest details discussed by Anthony Pompliano about the huge event that’s getting closer.
Bitcoin halving is getting near
Anthony Pompliano discussed the Bitcoin halving event via Fox Business. Check out what he had to say about the matter in the video that’s been shared on X:
The bitcoin halving will cut incoming supply by 50%.
You don’t have to overthink it.
If demand is 10-20x more than supply, Economics 101 taught you that price has to go up to accommodate everyone.
Here is my segment with @cvpayne on Fox Business today. pic.twitter.com/qNvAO5Uk9E
— Pomp 🌪 (@APompliano) March 11, 2024
Just like a lot of people addressed on the social media platform, the Bitcoin halving impact on supply is indeed intriguing.
The interplay between supply and demand in the crypto market is a delicate dance, echoing the fundamental principles of Economics 101. It will be fascinating to witness how this dynamic shift shapes the future of Bitcoin prices.
Someone commented: “The concept of the bitcoin halving, which reduces the supply of new bitcoins by 50%, is straightforward in its economic implications. If demand significantly outstrips this reduced supply, basic economic principles suggest that the price will increase to balance this disparity.”
More people noted the fact that the ETF funds are now accumulating whatever they can before the halving event.
It’s very probable that they will continue and purchase more, not only at this rate. At the moment of writing this article, Bitcoin is trading in the green, and the king coin is priced at $71,804.
What is definitely worth keeping in mind is the fact that Bitcoin halving reducing incoming supply can create an imbalance in the supply-demand equation, potentially influencing the price.
Basic economic principles suggest that increased demand relative to reduced supply tends to drive prices upward.