Bitcoin’s upcoming halving event is not expected to trigger a sustained bull run in the next 12-18 months, as analysts predict a different trajectory for the cryptocurrency. According to research from Kaiko, the reduction in miners’ rewards may not be the main driver of Bitcoin’s growth this time.

The focus is now on attracting new investors, particularly through spot ETFs in the U.S. and soon in Hong Kong, indicating a broader acceptance of Bitcoin in mainstream finance. The analysts at Kaiko point out that this halving is occurring in a unique high-interest rate environment, making it difficult to predict Bitcoin’s long-term trading behavior.

Factors such as robust liquidity and increasing demand will be key in enhancing Bitcoin’s value proposition in the future. Unlike previous halving cycles, Bitcoin has already experienced significant price surges, reaching new highs before the halving event, including a peak at $73,750 in mid-March.

Despite the upcoming halving, miners are maintaining their pace, according to CryptoQuant, indicating a stable mining ecosystem. As the cryptocurrency market continues to evolve, the impact of the halving on Bitcoin’s price remains uncertain, with the focus shifting towards attracting new investors and expanding mainstream adoption.

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