Richard Teng, CEO of Binance, said in a written commentary on Blockchain Exploration that this year's Bitcoin halving event is very unique because it coincides with other major events, such as the breakthrough of Bitcoin ETFs and the boom in Layer 2 and DeFi activities. He pointed out that historically, Bitcoin prices have risen within six months of each halving event, which may be due to the market reaction to the reduction in the supply of new coins. However, he emphasized that further growth depends on multiple factors, including overall market sentiment and adoption. While these factors bring an optimistic outlook for Bitcoin and the entire crypto market, investors need to manage their expectations, because the price changes immediately after the halving event are not well-founded, and their fundamental importance will be reflected in the long-term trend.
