The Bitcoin halving process is considered the second pivotal file in 2024 after the issuance of America’s approval of Bitcoin ETFs. It is expected that halving the Bitcoin mining reward, or what is known as “halving”, will effectively reduce the supply of the coin.
This action, scheduled for April 2024, may significantly impact the price, and demand may rise with the launch of spot ETFs. With fewer Bitcoin in circulation and more institutional financial bids for the coin, we may see a supply squeeze that would place a very high premium on Bitcoin in circulation. In this equation, Bitcoin miners will generally be among the biggest beneficiaries.
This event could halve block rewards for miners, which could significantly impact Bitcoin's valuation and its role in the broader digital asset landscape.
Bitcoin is already trading near all-time highs, and has risen more than 50% this year as a result of the US approval of new spot Bitcoin exchange-traded funds (ETFs).
The most prominent question currently remains: to what extent can Bitcoin rise after the halving?
