The massive overall demand for Bitcoin along with macroeconomic factors will play a far bigger role in driving the price of Bitcoin this year.
The Bitcoin (BTC) halving in April will only be one small part of why the cryptocurrency could see phenomenal gains this year, according to multiple industry analysts.
Next month, the Bitcoin halving will reduce daily BTC production by about 450 BTC from the current average daily amount of 900 BTC, investment researcher Lyn Alden told Cointelegraph.
However, Alden said the amount of supply cut pales compared to daily fiat flows in and out of crypto exchanges and Bitcoin exchange-traded funds (ETFs).
