The corporate department of Coinbase, the largest cryptocurrency exchange in the US, published a report on the Bitcoin reward halving. While many details about halving were given in the report, the previous 3 halvings were also commented.

“Bitcoin hitting an ATH in the run-up to the halving”

In the report, which stated that Bitcoin generally reached its peak level after halvings, it was written that this halving is different in this sense:

“This halving looks slightly different due to the recent entrance of Bitcoin ETFs on the market, and Bitcoin hitting an all-time high in the run-up to the halving.”

“It looks like the first halving”

However, analysts also draw attention to the similarity to the first halving in the early days of Bitcoin:

“Bitcoin traded up 139% in the six months leading up to the first halving and then rocketed 923% higher in the six months post-halving. Of course, these were early days for Bitcoin, which was trading at just over $5 six months prior to that halving, and the performance around subsequent halvings hasn’t been nearly as strong,” Conbase said.

In the report, which stated that there was no major price movement after the second halving, it was stated, “There wasn’t as big of a move ahead of the second halving, but Bitcoin topped $1,120 in the 12 months after the event.”

As it will be remembered, before the 3rd halving, due to the coronavirus crisis, Bitcoin fell to $3500 just 2 months before the halving, but about 10 months after the halving, it reached a new peak of $64,000 and was about 20 fold higher than the “coronavirus price”.

“The current cycle resembles the period from 2018-2022”

The report also noted that the halving may have a major impact on the price, but there is not enough data to explain this in a certain language, and the following statements were used:

“The current cycle most closely resembles the period from 2018-2022, during which Bitcoin gained 500% from its cycle low,” Coinbase said.