BTC halving: should we wait for ToTheMoon?
Bitcoin halving is expected in April 2024. The Bitcoin halving cycle is 89% complete. Historically, at this time the price moved sideways, but after halving a powerful bull run began. But I won’t completely heal it - but within about a year.
Bitcoin halving is expected in April 2024. The Bitcoin halving cycle is 89% complete. Historically, at this time the price moved sideways, but after halving a powerful bull run began. But I won’t completely heal it - but within about a year.
Halving is a sequential increase in the difficulty of mining a block by half, followed by a decrease in the reward (the number of mined coins) for the found block in the blockchain.
In Bitcoin, the number of mined bitcoins is strictly limited by the program. A total of 21 million. In addition, each cycle is 210,000 blocks, the reward for adding a new block will be halved. This is called Halving and it has happened every 4 years since 2012. This process - halving - protects Bitcoin from inflation. Before the halving in 2012, miners received 50 BTC per block mined, after which the reward decreased to 25 BTC.
After the halving in 2016, the reward amount decreased to 12.5 BTC. In May 2020, after the third halving, the emission for the mined block will be 6.25 BTC. In 2024, the reward and block will be 3.125 BTC. It is believed that halving leads to a doubling of the value, so it is logical to expect Bitcoin at $75,000-80,000. The most optimistic forecasts were about $140,000, but I don’t see any prerequisites for such growth yet.
In 2012, 2016 and 2020, the price of Bitcoin grew after the halving, but not immediately and not at the time of the halving, but for about a year after it. It is important that now the Bitcoin exchange rate, due to its penetration, popularity, features of adoption and regulation, is tied to many factors and markets, more strictly than it was in past years. Therefore, Bitcoin growth now has much more restrictions and balances.
Halving is a sequential increase in the difficulty of mining a block by half, followed by a decrease in the reward (the number of mined coins) for the found block in the blockchain.
In Bitcoin, the number of mined bitcoins is strictly limited by the program. A total of 21 million. In addition, each cycle is 210,000 blocks, the reward for adding a new block will be halved. This is called Halving and it has happened every 4 years since 2012. This process - halving - protects Bitcoin from inflation. Before the halving in 2012, miners received 50 BTC per block mined, after which the reward decreased to 25 BTC.
After the halving in 2016, the reward amount decreased to 12.5 BTC. In May 2020, after the third halving, the emission for the mined block will be 6.25 BTC. In 2024, the reward and block will be 3.125 BTC. It is believed that halving leads to a doubling of the value, so it is logical to expect Bitcoin at $75,000-80,000. The most optimistic forecasts were about $140,000, but I don’t see any prerequisites for such growth yet.
In 2012, 2016 and 2020, the price of Bitcoin grew after the halving, but not immediately and not at the time of the halving, but for about a year after it. It is important that now the Bitcoin exchange rate, due to its penetration, popularity, features of adoption and regulation, is tied to many factors and markets, more strictly than it was in past years. Therefore, Bitcoin growth now has much more restrictions and balances.