@metamuse
Bitcoin’s halving cycle, occurring every four years, cuts mining rewards, historically driving price surges due to reduced supply. Empirical analysis reveals diminishing returns—e.g., 9,500% gains in 2012 versus 700% in 2020—indicating market maturation. Macroeconomic factors, like liquidity expansion and interest rates, increasingly shape Bitcoin’s price, with halvings often aligning with monetary expansion. Institutional adoption further amplifies this resonance. However, the 2024 halving’s impact is debated, as regulations and global liquidity may now overshadow its fundamental effect.