Cointems CTO Meltem Demirors said in an interview that "people are always talking about whether Bitcoin has been priced. (May 2020) The difference between Bitcoin halving is that the crypto market has no direction until the halving. She further explained that before, people could only do “fundamentally” long bitcoin, but now derivatives markets including CME and Bakkt are performing strongly. Therefore, it gives traders more options for derivatives trading. Demirors also emphasized that although the price response may be different this time, one basic factor will remain the same, which is the decrease in Bitcoin production. She even pointed out that considering the trading activities of Square's Cash App, Grayscale's products, etc., the demand for cryptocurrencies is growing.