Mark Palmer, a senior analyst at investment bank The Benchmark Company, pointed out that in the past three halving events, Bitcoin saw a "significant rise" in the next 14-16 months, proving the impact of changes in supply and demand on cryptocurrency prices. .
Bitcoin's price may also be supported by a more cryptocurrency-friendly environment, with investors anticipating a second Trump term could help push cryptocurrency prices higher. Traders are looking to the U.S. president-elect, dubbed the "crypto president," to ease regulations and potentially establish a strategic reserve of Bitcoin, something he proposed months before the election. Trump is also reportedly interviewing candidates for a White House position dedicated to cryptocurrency policy, with the candidate likely to be given the title of the first-ever “cryptocurrency czar.” Mark Palmer believes that this role itself is good for Bitcoin. "Just the fact that someone is going to be focused on making the United States a leader in things like cryptocurrency and Bitcoin mining, that's a huge change," he said. (businessinsider)