Bitwise, the crypto index fund management giant, believes that the digital asset market often underestimates the long-term impact of Bitcoin’s halvings. In the first month following the halvings in 2012, 2016, and 2020, the price of BTC experienced fluctuations of 9%, -10%, and 6% respectively. However, the price of Bitcoin skyrocketed by 8,839% in the year after the 2012 halving, 285% in the year after the 2016 event, and 548% after the 2020 halving. Bitwise Chief Investment Officer Matt Hougan and senior crypto research analyst Juan Leon also observed that Bitcoin spot trading volumes increased in the year following each halving. They suggest that while the market may account for the short-term impact of halvings, it underestimates their long-term impact, indicating that halvings may contribute to price appreciation over time. Bitcoin’s halving date is set for April 20th, according to NiceHash. At the time of writing, BTC is trading at $61,486, showing a decline of over 3% in the past 24 hours and over 12% in the past week.