How Did Bitcoin Price Move During and After Previous Halvings: Here is the Data

How did the halving period, one of Bitcoin's most anticipated events, affect the BTC price in past events?
As we approach the next Bitcoin halving event, scheduled for Saturday, April 20 at approximately 1:00 am ET, it is worth taking a look at how the Bitcoin price has reacted before and after previous halvings.
Historically, the year following the halving has seen significant increases in Bitcoin's price:
2012: 8.839%
2016: 285%
2020: 548%
The month following the halving saw more mixed results:
2012: 9%
2016: -10%
2020: 6%
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While the data we have is limited, an interesting pattern emerges: The market is pricing in the short-term impact of the halving but underestimating the long-term impact.
Former Bitmex CEO Arthur Hayes shared his thoughts on the upcoming Bitcoin halving in a Medium post last week. While discussing the halving, which is seen as a bullish catalyst for cryptocurrency markets, he said:
“I agree that this will raise prices in the medium term, but price movements immediately before and after may be negative.”
Hayes also noted:
“The narrative that the halving is positive for crypto prices is well established. When most market participants agree on a particular outcome, the opposite often occurs.“I believe that Bitcoin and crypto prices will generally decline during the halving period.”*This is not investment advice.

In 2024, decentralized finance (DeFi) projects are expected to continue revolutionizing the financial industry by offering innovative financial services, including lending, borrowing, and yield farming, while maintaining transparency and decentralization. NFTs (Non-Fungible Tokens) are forecasted to evolve further, expanding into various industries beyond art and collectibles. Additionally, advancements in blockchain scalability solutions and interoperability protocols are anticipated to address current limitations, fostering broader blockchain adoption. Overall, continued innovation, regulatory clarity, and mainstream integration are factors that could drive the next wave of growth and development in the crypto space in 2024.
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Predicting the start of an "Altcoin season" is challenging as market dynamics and investor sentiment play significant roles in determining the timing. Typically, Altcoin seasons occur after a period of Bitcoin dominance, where alternative cryptocurrencies (Altcoins) experience significant price surges relative to Bitcoin. Keep an eye on market trends, trading volumes, and shifts in investor interest to gauge when Altcoin season might begin. Timing the start of Altcoin season accurately can be difficult, so diversification and risk management are key strategies for navigating volatile market cycles.
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An Ethereum exchange-traded fund (ETF) approval could have significant implications for the cryptocurrency market. It would potentially open the doors for traditional investors to gain exposure to Ethereum without directly holding the underlying asset. An Ethereum ETF approval could lead to increased institutional interest, improved liquidity, and greater mainstream acceptance of Ethereum as a legitimate investment asset. Investors should monitor regulatory developments closely as an ETF approval could signal a major milestone in Ethereum's journey towards broader adoption and integration into traditional financial markets.
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Prediction of BTC price in April 2024

Predicting Bitcoin's price in April 2024 is challenging due to the volatile nature of cryptocurrency markets. However, factors such as adoption rates, regulatory developments, macroeconomic conditions, and investor sentiment will play crucial roles in determining Bitcoin's price trajectory. While various models and analyses exist, it's important to approach price predictions with caution, considering the unpredictable nature of the crypto market. Monitoring market trends and staying informed about key developments will be essential in formulating informed projections for Bitcoin's price in April 2024.
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Guide on Bitcoin Halving and why it matters

Bitcoin halving is a significant event that occurs approximately every four years, reducing the reward miners receive for validating transactions on the Bitcoin network. This scarcity mechanism helps control inflation and contributes to Bitcoin's value proposition as a deflationary asset. The halving is crucial as it impacts the supply and demand dynamics of Bitcoin, often leading to increased price volatility following the event. Understanding the Bitcoin halving is essential for investors and enthusiasts to grasp the fundamental principles that underpin Bitcoin's value and its long-term impact on the cryptocurrency market.
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Cardano Smart Contracts: What Makes Them Different?

Smart contracts are a crucial component of decentralized blockchain networks, automating the execution of agreements without the need for intermediaries. Cardano, a prominent blockchain platform, has emerged as a leading player in the smart contract arena. What sets Cardano's smart contracts apart from others, and why are they gaining attention in the blockchain community?

One key differentiator of Cardano's smart contracts is their foundation on peer-reviewed academic research and a rigorous development process. Cardano's approach prioritizes security, scalability, and sustainability, aiming to address the limitations faced by other blockchain networks. The platform's smart contracts are created using the Plutus programming language, which offers developers a secure and reliable framework for building decentralized applications.

Another standout feature of Cardano's smart contracts is their focus on interoperability and compatibility with existing systems. By utilizing open standards and protocols, Cardano enables seamless integration with external networks and applications, fostering a more interconnected and versatile blockchain ecosystem. This interoperability opens up new opportunities for developers and businesses looking to leverage smart contracts for a wide range of use cases.

In conclusion, Cardano's smart contracts stand out for their commitment to security, interoperability, and sustainability. With a strong foundation in academic research, a focus on open standards, and energy-efficient design principles, Cardano is well-positioned to drive innovation and adoption in the smart contract space.

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Bitcoin’s recent all-time high is reportedly generating approximately 1,500 ‘millionaire wallets’ each day.

The public nature of Bitcoin’s network allows for visibility into the number of tokens each wallet holds. However, the anonymity of these addresses makes it challenging to identify whether individuals or organizations own them.

This year, the original digital currency has climbed by about 70%, driven by enthusiasm for the newly approved Bitcoin ETFs that began trading in January. Despite this impressive growth, the rate of millionaire wallet creation is not as high as in the 2021 bull market, which saw over 4,000 wallets daily reach the million-dollar threshold. According to crypto analytics firm Kaiko Research, the peak for this year occurred on March 1, with 1,691 wallets.



Daily count of BTC Wallets | Source: Kaiko

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Several factors could be contributing to this more moderate pace of wealth creation. The market may still be waiting for significant new investments as large investors, or whales, may be cashing in their profits at BTC’s new highs. Large investors are opting to secure their assets with custodial services rather than in personal wallets, according to Kaiko’s Monday report.

As the most prominent cryptocurrency reached an all-time high of $72,600 today, every investor who has ever entered and remained in the Bitcoin market is enjoying profits. This latest rally also means that BTC’s value has increased almost every year since its inception, except for 2015, 2019, 2022, and 2023. This means Bitcoin has remained a more stable asset than fiat currencies like the USD, which has declined yearly since 2009 due to inflation.
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Most Popular AI Crypto Coins

Bittensor (TAO), Render (RNDR) and Fetch.ai (FET) are unsurprisingly the most popular AI crypto coins so far in 2024, on the back of their large market capitalization and strong price performance. 7 other popular AI coins that rank among the top 200 crypto by market capitalization are Akash Network (AKT), PAAL AI (PAAL), SingularityNET (AGIX), Ocean Protocol (OCEAN), AIOZ Network (AIOZ), Nosana (NOS) and Arkham (ARKM).

15 smaller AI crypto coins have also managed to capture attention and rank among the most popular. For example, PaLM AI (PALM) has gained significant interest from its association with Google’s AI technology. Meanwhile, smart contract auditor 0x0.ai (0X0), RWA platform TokenFi (TOKEN), web3 gaming infrastructure GameSwift (GSWIFT) and social trading platform Zignaly (ZIG) have captured interest from incorporating AI technology.

The smaller yet popular AI crypto coins are Autonolas (OLAS), Oraichain (ORAI) and Clore.ai (CLORE).

The 25 most popular AI crypto coins, based on non-botted web traffic in 2024, are ranked as follows:

1 Bittensor (TAO) 11.95%
2 Render (RNDR) 10.18%
3 Fetch.ai (FET) 8.86%
4 Akash Network (AKT) 5.79%
5 PAAL AI (PAAL) 5.72%
6 PaLM AI (PALM) 4.94%
7 SingularityNET (AGIX) 4.41%
8 Solidus AI Tech (AITECH) 4.16%
9 DeepFakeAI (FAKEAI) 4.06%
10 ChainGPT (CGPT) 3.94%
11 Autonolas (OLAS) 3.94%
12 AIT Protocol (AIT) 3.72%
13 LayerAI (LAI) 2.85%
14 Nosana (NOS) 2.81%
15 Oraichain (ORAI) 2.51%
16 Ocean Protocol (OCEAN) 2.35%
17 AIOZ Network (AIOZ) 2.29%
18 0x0.ai (0X0) 2.12%
19 TokenFi (TOKEN) 2.03%
20 GameSwift (GSWIFT) 1.95%
21 Arkham (ARKM) 1.92%
22 Sleepless AI (AI) 1.91%
23 Zignaly (ZIG) 1.91%
24 Clore.ai (CLORE) 1.88%
25 Delysium (AGI) 1.80%

Which Countries Are Most Interested in AI Crypto?

The top AI crypto countries in 2024 are the US, which accounted for 18.9% share of global interest in the narrative, followed by the UK (9.1%) and Türkiye (6.5%). The US and UK also led the meme coin craze last year, pointing to their importance in the crypto market.

Five other countries similarly led global rankings for both AI crypto this year and meme coins last year, namely India, Australia, Canada and the Philippines. This suggests that these countries are particularly reactive to crypto market narratives.

Southeast Asia has shown particularly outsized interest in AI crypto coins, with 4 countries in the region ranking among the top 15. The Philippines came in 10th with a 2.8% share of global interest in the narrative, while Singapore and Indonesia accounted for 2.2% each and Vietnam 1.2%.

Within the European Union, the AI crypto narrative is most popular with the Netherlands (5.6% global interest share), Poland (3.2%), Germany (3.2%) and France (2.1%).

In total, the top 15 AI crypto countries account for a majority 74.4% market share of global interest.

Rank Country Share of Global Interest
1 United States 18.86%
2 United Kingdom 9.14%
3 Türkiye 6.54%
4 India 5.70%
5 Netherlands 5.56%
6 Australia 5.34%
7 Canada 4.54%
8 Poland 3.20%
9 Germany 3.20%
10 Philippines 2.82%
11 Singapore 2.18%
12 Indonesia 2.16%
13 France 2.09%
14 Nigeria 1.82%
15 Vietnam 1.25%
- Others 25.60%

When Will the Peak of the Bull in Bitcoin Be Seen? Analyst Gave Date

Famous cryptocurrency analyst Rekt Capital shared his views on the future of Bitcoin, which recently broke the all-time high price level record once again.

According to Rekt Capital, Bitcoin tends to reach its “Bull Market Top” between 266 and 315 days after surpassing the previous All Time High Price (ATH).

Considering that Bitcoin broke its former ATH today, the next Bull Market Peak is predicted to occur between the end of November 2024 and the end of January 2025.

But this cycle may not be as fast as it seems. The analyst points out that the number of days Bitcoin spent beyond its former ATH before reaching its Bull Market Top is actually lengthening. In 2013, Bitcoin rallied for 268 days before reaching its peak. This figure increased by 14 days to 280 days in 2017. In 2021, it increased by 35 days compared to 2017, reaching 315 days.

Historically, the number of days Bitcoin spends beyond its former ATH increases by approximately 14 to 35 days. So, how long can Bitcoin spend beyond its former ATH this cycle before reaching its Bull Market Top?

According to the analyst, if we add 14 to 35 days to the First Bull Market Peak range of 266 to 315 days, the total will reach 280 to 350 days. This could push the Bitcoin Bull Market Peak to mid-December 2024 or mid-February 2025.

*This is not investment advice.
#BTC