The next Bitcoin halving is due in about a year’s time, reducing the blockchain rewards from 12.5 to 6.25. Halvings are considered something of a celebratory occasion for crypto-enthusiasts, marking a steady advancement of the Bitcoin network. BKCM crypto fund manager Brian Kelly, speaking to CNBC, said that the halving could bring even greater price rises to the digital asset.
Kelly, often a guest on CNBC, said that the increased demand for Bitcoin (BTC) would cause a spike in prices as supplies dropped. He said on the Fast Money program,
You generally have a rally a year into it, and a year out of it. And so we’re just at the beginning of that stage […] a supply cut is generally bullish.
Others have also said that the halving could spur a rise in price. Bitcoin halvings have typically been followed by strong rallies, so the next few years is looking increasingly prosperous for Bitcoin.