Tether CEO: BTC price hard to predict as halving approaches

Bitfinex CTO and Tether CEO Paolo Ardoino said that the BTC price is hard to predict as the next bitcoin halving approaches. Paolo Ardoino referred to the increased demand due to the launch of spot bitcoin ETFs, saying, "Today, the demand for bitcoin has far exceeded the existing mining capacity, and we're seeing these large institutions and ETFs, the demand for bitcoin far exceeds the current mining output. It's safe to assume that the halving will cut mining output in half, and the vast majority of bitcoin has already been mined." The next halving event is expected in April, with miner rewards expected to decrease from 6.25 BTC to 3.125 BTC per block.