Bitcoin is poised for innovative growth following halving, per mining chair

Bitcoin's recent halving event has sparked scrutiny over its price movements as well as a wave of technological innovations within its ecosystem. Roundtable anchor Rob Nelson and Brittany Kaiser, chair of the board at Gryphon Digital Mining (GRYP), recently explored the post-halving landscape and its implications for the future of bitcoin.

Nelson sets the stage by highlighting the predictable price movements of bitcoin following the halving.

"It's the summer after the halving, and it kind of just does this little up and down, up and down," Nelson observed. He suggested that the price fluctuations, such as bitcoin dropping to $62,000 and bouncing back to $68,000 recently, were expected.

"None of this is surprising... I'm guessing you think we're going to stay in this for a few months and then we'll start seeing the uptick toward fall," he added.

Kaiser offered a comprehensive view, emphasizing the importance of considering external factors that influence bitcoin's price.

"Post halving, there are a few things that we're looking at. Of course, there are international and world events in terms of wars and military action that always affect price activity in the entire market," Kaiser noted. She stressed that bitcoin's price movements are not solely dictated by the halving but are also shaped by global events.

Kaiser shifted the focus to the unexpected developments in the mining sector following the halving.

"Instead of immediately, these rewards cutting in half for the days after the halving, we saw rewards up to three-x in each block," she revealed.

This phenomenon is linked to the rapid growth of new technologies within the bitcoin ecosystem. The emergence of bitcoin-native assets, side chains and Layer 2 solutions has created a dynamic and evolving landscape that was absent in previous halving cycles.

A significant development in this context is the rise of Ordinals and Runes, bitcoin-native assets attracting new communities and industries.

"The explosion of this specifically around Ordinals and Runes and other really exciting bitcoin-native assets are a completely new set of asset classes that is drawing attention from new communities on bitcoin that may have been using other blockchains or may have even come from gaming or other trades," Kaiser explained.

This surge of interest and innovation highlights a transformative phase for bitcoin, expanding its role beyond just an asset class.

Watch the full discussion here: https://www.thestreet.com/crypto/markets/bitcoin-is-poised-for-innovative-growth-following-halving-per-mining-chair