One of the big debates is whether the halving is the key driver of bitcoin price action or whether it is macro forces like liquidity.
Supply halvings:
https://m.primal.net/HNfH.png
Global liquidity:...
This is why having the halving on US presidential election years was a genius choice by Satoshi. Incentive is to stimulate that year to help yourself in the election. Why the debate will live on for more cycles.
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