Bitwise: Bitcoin price is expected to continue testing new highs in the next 12 months

Odaily News Bitwise Asset Management reiterated its bullish view on Bitcoin, expecting Bitcoin to outperform over the next 12 months. Bitwise researcher Ryan Rasmussen published his views on Bitcoin's future performance after the fourth halving on Schwab Network on Monday. Ryan explained: "What has historically happened to miners after the halving is that there has been some consolidation across the industry. Some miners were not prepared for the change in mining economics after the halving. From a price perspective, what we typically see is that the year before the halving and the year after the halving are the best years for Bitcoin in a three- or four-year cycle, and this has happened." He pointed out that while there is no guarantee that the same will happen in the future, he emphasized: "We definitely had a great year before the halving. We rebounded from the lows in 2022, had a great 2023, we have a good start in 2024, and I do think we will continue to test new highs in 2024 and the next year after the halving." (Bitcoin.com)