The fact that the Bitcoin (BTC) price has a post-halving rally that occurs every four years triggers the belief that a new bull season may be coming. Now it is being discussed whether the cryptocurrency markets will start halving pricing again.

There is a Bitcoin halving event every 210,000 blocks, and the mining rewards are halved. Based on the average completion of a block in 10 minutes, it takes a little less than four years to build 210,000 blocks. The first halving took place on November 28, 2012, and the mining reward was reduced from 50 BTC to 25 BTC. The second half took place on July 9, 2016, and the mining reward decreased to 12.5 BTC.

The third and last halving took place on May 11, 2020, and it was noted that the mining reward fell to 6.25 BTC. The upcoming fourth mining reward halving is expected to take place on April 12, 2024, and the mining reward is expected to decrease to 3,125 BTC. Historically, BTC, which has recorded new ATHs in the 1 year following halving, is now discussing the possibility of a new rally.

Many well-known names say that 2024 is a bullish time for Bitcoin and altcoin markets. Elon Musk, who is one of these names, recently pointed to the spring of 2024. Similarly, Peter Brant also reported that the year 2024 will be a harbinger of growth and ATH may come for Bitcoin in 2025. December April 12, 2024 According to the Binance halving counter, the halving of BTC may take place on April 12, 2024, which coincides with the date range indicated for the rise.

The Impact of Macro Factors on Bitcoin Can Be Seen

Cryptocurrency markets were used to seeing a macro price peak within a year after each block halving of Bitcoin (BTC). But now, price action is considered less predictable. Experienced cryptocurrency analyst William Suberg draws attention to the impact of macroeconomic factors on the reduction of predictability. According to analyst Suberg, halving pricing may lag behind macro factors:

“Although the factors controlling it are many and various, it does not mean that the bulls will break at a different point in the current cycle. But overwhelmingly, macro triggers are being pointed at as what could keep Bitcoin under pressure until then”. #BTC #halving #Meme #crypto2023 #Binance

Trading Heights

A Brief Overview of Previous Bitcoin Halving & Its Effects on the Market

Bitcoin halving is an event that occurs every four years and halves the reward for miners who successfully mine a new block.

The Bitcoin protocol is heavily reliant on a concept known as mining. Mining is an essential part of the Bitcoin network and this is the process of verifying transactions on the Bitcoin blockchain, and has a significant impact on the Bitcoin market, as it affects the supply and demand of the Bitcoin .

The first halving of Bitcoin occurred in 2012 and marked a major milestone in the cryptocurrency's history. Halving process reduces the amount of new Bitcoins created and released into circulation every 10 minutes, thereby reducing inflation and increasing the scarcity of Bitcoin . The halving event was seen as a bullish sign for the future of Bitcoin , as it suggests that demand for the digital currency is increasing while supply is decreasing.

The rest of halving in 2016 and 2020 Bitcoin price was followed by a pre-event and post-halving bullish rally which saw Bitcoin prices soar to all-time highs in 2017 and 2021 respectively.

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What are Predictions for the Future Effects of 2024 Year's Bitcoin Halving on Prices?

The Bitcoin halving of 2024 will be one of the most anticipated events in the cryptocurrency world. It is expected to have a major impact on the price of Bitcoin , and many experts are predicting that it could result in a significant increase in its value. It is important for investors to understand how this event is affecting the market so that they can make informed decisions about their investments. As we approach the Bitcoin halving, it is important to understand what it means and how it will impact the cryptocurrency market. 2024 year's halving will reduce the reward for miners from 6.25 BTC , the next block reward will be 3.125 BTC per block mined, which could have a significant effect on the price of Bitcoin and other cryptocurrencies. To prepare for this, investors should be aware of potential changes in market dynamics, such as increased FOMO stimulus, sudden price volatility prior to halving.

The halving events of Bitcoin have been divided into sectors in a chart to provide an insightful look into its history. It is interesting to note that each halving event is marked with a unique color, starting with number 0. This chart also provides a glimpse into the changes in Bitcoin's value during these events 1-2-3, and how they have impacted the growth of Bitcoin

Rising phase (2013, 2017, 2021)

Crash phase (2014, 2018, 2022)

Bottom Phase (2015, 2018, 2023?)

According to this trend we can expect that 2023 is the Bottom phase of the cycle, and is likely to see prices double as investors look to make profits on the increasing scarcity of Bitcoin . After this, it's likely that we'll experience a rapid rise back towards new All-time Highs (ATH), as investors FOMO to take advantage of the increased demand.

The bitcoin halving of 2024 will be a pivotal moment. After the halving, the amount of newly mined bitcoins will be reduced by half and this could lead to a significant change in the Bitcoin price. This may have both positive and negative implications for the value of bitcoin , however it might be a pure math of Supply and Demand .

#halving #Binance #crypto2023 #BTC #dyor

Even though Bitcoin is a digital currency, you cannot make an infinite amount of it.

As in the case of gold, its value is determined by its rarity. In this regard, the Bitcoin protocol has two important foundations. First, there will only be 21 million Bitcoins in total. This now has approx. 90 percent of it has already been mined. This is why the second base is necessary, that the amount of new Bitcoin added to the network is halved every four years. This concept is called halving.

At the beginning of 2020, 12.5 new Bitcoins were added to the network every 10 minutes with virtual "mining". In May, this amount was halved to 6.25. In 2024, this will further decrease to around 3.125. And this process repeats until all 21 million coins are mined. This will happen around 2140 according to some estimates.

By issuing fewer and fewer Bitcoins over time due to the halving, it will likely increase the value of Bitcoin. This is in stark contrast to traditional currencies, which tend to lose value over time due to inflation.

How It Works?

Bitcoin is often compared to gold as it is a similarly valuable and rare asset that is likely to resist inflation. However, unlike gold, the digital and exact amount of Bitcoin is known and verifiable by everyone.

According to the United States Geological Survey, all the gold mined so far would fit in a little more than three Olympic swimming pools, but it is impossible to know exactly how much gold is left on Earth, as new gold deposits are discovered every year, making the amount of supply unpredictable. In contrast, Bitcoin is finite and its supply schedule is known.

Like gold, Bitcoin is "mined", but not by grapples and sieves, but by a global network of computers that compete to verify Bitcoin transactions and reward miners with Bitcoin.

This reward is halved approximately every four years to keep Bitcoin mining predictable, thereby maintaining its value and the massive fanfare surrounding it.

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#crypto2023 #crypto101 #BTC #bitcoin #halving

Ever wonder why there will only ever be 2,099,999,997,690,000 sats and not 2,100,000,000,000,000 sats?

It's because of the way the halving is executed, using a bitwise shift, and because there aren't sub-sat denominations on-chain.

Looking at how this affects the block rewards, we see there are 11 halvings where the block reward is rounded down to the nearest sat, meaning there are 210,000 * 11 = 2,310,000 sats that will never be mined as a result.

2,100,000,000,000,000

- 2,310,000

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2,099,999,997,690,000

#BTC #halving #crypto2023 #bitcoin