The next bitcoin price drop is expected within the next month.
Bitcoin is currently experiencing an impressive price increase.
There is growing optimism among investors about a historic event that will fuel the market's ongoing rally.
As the #cryptocurrency market rises, expectations of the next #bitcoin price halving are growing. Being a pre-planned event associated with fueling the cryptocurrency bull momentum, investors are optimistic that the next halving will repeat past successes and push bitcoin and other assets to new price peaks.
As the halving approaches, the current industry-wide countdown shows that the long-awaited event may be closer than ever.
Will bitcoin halve?
According to OKLink's countdown as of Friday, March 1, the cryptocurrency industry is just over 50 days away from bitcoin's fourth halving of bitcoin.
This comes after the cryptocurrency industry reached the halving milestone on Feb. 12, when the 830,000th block of the 840,000 blocks required for halving was added, raising expectations for the remaining 10,000 blocks.
Since reaching this milestone, another 2,703 blocks have been mined, leaving 7,297 blocks remaining to be mined at the time of publication. With an average block generation time of 10 minutes, the next bitcoin halving is expected on April 21, 2024.
The historical trend of prices rising at half the drop makes investors and industry analysts optimistic about the impending bull market.
Halving bitcoin: will it cause the next bull market?
If bitcoin is halved, the current reward of 6.25 #BTC per mining block will drop to 3.125 BTC. This is expected to coincide with the market demand shock caused by the recent approval and launch of the Bitcoin ETF fund.
Market analyst Lext Capital emphasized that based on the precedents of the last three cycles, the industry is likely to experience a parabolic change six months after halving in value.
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