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COMPLETE REVIEW ON BTC HALVING AND WHAT EXPECTED ON 2024:
1; November 28th, 2012: The first halving! Block reward went from 50 BTC to 25 BTC. While Bitcoin was still young and relatively unknown at the time, price did surge from $13 to a peak of $1,152 within a year.
2; July 9th, 2016: The second halving saw the reward drop to 12.5 BTC. Price followed a similar pattern, rising from around $250 to over $20,000 by the end of 2017.
3; May 11th, 2020: The most recent halving brought the reward down to 6.25 BTC. While the pandemic caused a temporary dip, Bitcoin price went on a tear, reaching its current all-time high above $70,000 in November 2021.
The next halving is around on April 2024. Here's what we can expect:
1; Reduced Block Reward: The reward will fall to 3.125 BTC, further tightening the supply of new Bitcoin entering the market.
2; Potential Price Impact: Historically, halvings have been followed by price increases. However, the market is complex and influenced by various factors.
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