Countdown to Bitcoin Halving
Bitcoin block reward will decrease from 6,25 coins to 3,125 coins in about
What will happen to bitcoin after halving? And what happened previously
Bitcoin halving is one of the most significant and anticipated events in the cryptocurrency community. The next cycle should end very soon, after which the price of the most famous cryptocurrency will be recalculated. In this text, we’ll recall the halving history, as well as discuss the upcoming halving in 2024 and give forecasts for the bitcoin price.
What is Bitcoin halving?
Halving is a recalculation in the system of the new coins number, which is based on the number that has already been mined. That’s a natural process necessary to reduce the BTC inflation. Every few years, the cost of miners' services decreases, which is due to the initial scheme of the entire ecosystem, and the reward is halved when a certain number of new blocks are mined. On average, the bitcoin halving just happens about once every 4 years, which can be observed by the actual fluctuations in the BTC value on the market since its appearance.
This process was applied to regulate the cryptocurrency market. That’s true that no financial institution or government can influence the determination of the value of the crypt. The entire economy of this niche operates on the terms of commercial supply and demand. But control must still be carried out. And there’s a certain countdown to bitcoin halving for today.
The history of Bitcoin halvings
Halving occurs approximately every four years and has a global impact on the cryptocurrency market. We considered the history of halving, starting from 2012.
The first bitcoin halving took place in November 2012. At that time, the reward for mining the block was 50 bitcoins. However, after halving it was halved.
This halving had a significant impact on the market. At that time, bitcoin was already beginning to attract the attention of investors and traders, and halving became one of the key events that raised its price. In the period after halving, bitcoin showed impressive growth, and its price reached new historical highs.
In July 2016, the second halving occurred. This time, the block reward was reduced from 25 to 12.5 BTC meaning that miners started to receive half as much cryptocurrency for their work.
The halving also had a significant impact on the market. The BTC price began to rise and continued its growth over the following years. In December 2017, bitcoin once again reached its historical maximum, exceeding the $20k mark.
The third bitcoin halving took place in May 2020. The block reward has been reduced from 12.5 to 6.25 BTC. This event was especially expected, as bitcoin has already become widely known and attracted a significant number of investors.
After halving in 2020, the bitcoin price continued its growth and reached new historical highs in 2021. This confirms the observed trend that halvings of bitcoin can stimulate the growth of its price.
It is important to note that predicting the price of bitcoin after halving is a difficult task. The impact on the cost depends on various factors, such as supply and demand, mass adaptation, geopolitical events, and the general economic situation. In addition, the cryptocurrency market is known for its high volatility and uncertainty.
Despite these, historical data and observations of previous halvings allow us to make assumptions about a possible increase in the price of bitcoin after halving 2024. However, each investor should independently assess the risks and make informed decisions based on their own research and consultation with experts.
Bitcoin halving remains one of the key events in the cryptocurrency industry, and its consequences continue to attract the attention of the community. Given the rapid development of technology and the further evolution of the cryptocurrency market, it’s extremely curious how future halvings will affect the further dynamics of bitcoin and its market value.
Date of the next halving
The next halving is expected in 2024. They arouse great interest in the cryptocurrency community, and many investors and traders expect positive changes in the market after these events. They say it’s at this time that the achievement of a new historical maximum in price will begin. This allows miners to block possible financial drawdowns, if a strategy for profit making in the cryptocurrency market wasn’t developed competently before.
In order to operate with specific figures and have an idea of the possible prospects regarding the cost, it makes sense to view the bitcoin halving chart for the entire time.
However, it should be remembered that the cryptocurrency market is characterized by high volatility, and the results of previous halvings won’t necessarily be repeated in the future. Investors are advised to exercise caution and base their decisions on fundamental and technical analysis, as well as consult with financial experts.
Bitcoin Price forecasts after Halving
Predicting the BTC price after halving is a difficult task, as the rate is influenced by many factors, including demand, supply, macroeconomic, events and general market activity. However, historical data and observations of previous halvings allow us to make some predictions and assumptions.
Many experts and analysts think that after bitcoin halving in 2024, the bitcoin price will continue to grow. They point out that reducing the block reward leads to a decrease in the supply of new bitcoins, which can create a shortage and push the price up.
Some analysts refer to previous halvings and see similar patterns. For example, after the first two halvings in 2012 and 2016, the BTC rose sharply. These observations suggest that a similar price increase may occur after halving in 2024.
You should also take into account the impact of the general market situation on the price of bitcoin. If the cryptocurrency market as a whole experiences growth and increases interest from investors, this may also support the growth of the bitcoin price after halving.
It’s worth noting that predicting the bitcoin price is difficult and not always accurate. The cryptocurrency market is characterized by high volatility and uncertainty, so there is a risk of unpredictable changes. It’s important to remember that forecasts are just assumptions and don’t guarantee the exact development of events.
The data and forecasts presented in this article are not financial advice or recommendations. Always do your own research and consult with financial experts before making investment decisions.