The Bitcoin network will experience a significant impact during the next halving, scheduled for April 2024. Compared to the previous halving in 2020, where Bitcoin was valued at approximately $9,000, the upcoming halving at a price of $70,000 is expected to have a threefold increase in dollar terms. This translates to a daily reduction of around $32 million and an annual decrease of $11 billion in circulating coins.

Horsley commented that the sales volume is expected to decrease significantly during the halving, while demand for Bitcoin is anticipated to rise. Hunter added that the imbalance between supply and demand resulting from the halving could further elevate the value of the cryptocurrency and trigger a bullish market rally.

Matt Hougan, the Director of Information Technology at Bitwise, predicts a long-term rise in Bitcoin's price due to the rise in demand caused by ETFs. He estimates that if institutions invest just 1% of their assets in Bitcoin-based funds, the cryptocurrency's market capitalization could increase by $1 trillion, representing a 72% surge from its current value.

Hougan also speculates that allocating up to 2.5% of financial resources into cryptocurrencies could lead to a potential growth of $2.5 trillion in Bitcoin's market capitalization, a significant 180% increase driven primarily by ETFs.