A recent panel at the Swan Pacific Bitcoin festival was cleverly titled, “Are halving price cycles bullshit?” Throughout the discussion, host and founder of the Bitcoin Layer Nik Bhatia asked Marathon Digital (NASDAQ:MARA) CEO Fred Thiel, Swan CIO Ralph Zagury and Swan product manager Andy Edstrom to share their thoughts on whether the Bitcoin halving is truly a bullish event or just another narrative that novice investors buy into.
While the panel’s headline might be offputting for some, the inquiry is of great interest to all manner of Bitcoin (BTC) and cryptocurrency investors. The conventional belief held by many in the space is that the Bitcoin supply halving is a bullish phenomenon that when complete, is followed by near parabolic upside in BTC price.
