The Magic of Bitcoin Halving and how It Affects Prices and What Investors Think

Bitcoin halving is a special event in the world of cryptocurrency. It does happen around every four years and has a big impact on how much Bitcoin is made and how people feel about investing in it. Let's talk about why this matters, especially as we get closer to the 2024 halving.

So, what is Bitcoin halving exactly? Well, imagine Bitcoin as a treasure or virtual gold that miners find by solving complex puzzles. When they find this treasure, they get rewarded with new Bitcoin. But every four years, this reward gets cut in half. In 2024, miners will get half the Bitcoin they used to for finding a new block before April 2024.

Now, why does this affect prices? It's like having a limited edition of toy – when there's less of it, people want it more and more. The same goes for Bitcoin. Less Bitcoin being made means it becomes more valuable. That's why, in the past, Bitcoin prices have gone up after each halving. This Bitcoin halving is so special because the price of Bitcoin has crossed its previous all-time high of $69K even before halving. It has happened because of Bitcoin ETF and institutional buying of BTC. Lets evaluate the value of bitcoin in every halving day. In November 2012, it was at $12, in July 2016 its price was at $664, in May 2020 the price was at $8600. It went $69000 from $8600. Surprisingly before the halving of April 2024 it has made new all-time high of $73800.

This event also affects how investors feel about Bitcoin. Before the halving, people get excited. They think the price will go up, so they want to buy more. After the halving, they feel more confident in Bitcoin's future. They see it as a good investment because there's less of it around.

So, as we get ready for the 2024 halving, it's good to understand how it works and why it matters. Just remember, while halving can be exciting, it's smart to keep an eye on what's happening in the big picture of cryptocurrency.

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