Here are the latest updates and predictions after BTC halving in cryptocurrency market with facts and figures.
Bitcoin Price Prediction
- Bitcoin (BTC) is expected to reach a new record of $88,000 throughout the year, before it settles around $77,000 at the end of 2024.
- The cryptocurrency's current price sits at around $43,000.
- Bitcoin is likely to hit an average peak price of $87,875 in 2024, with some experts predicting it will climb as high as $200,000.
- The average lowest price Bitcoin could hit by the end of 2024, is seen as $35,734, the report said, with some predicting it will fall as low as $20,000.
Bitcoin Halving Event
- Around April 19-20, 2024, the block reward reducing in process from 6.25 Bitcoin per block to 3.125 Bitcoin per block.
- Every four years, on the halving day, the amount of new Bitcoins created gets cut in half.
- The halving event takes place around every four years and slows the entry of new coins into the crypto economy, helping the asset grow more scarce over time.
Bitcoin Halving Impact
- More than half of the experts Finder surveyed expected the price to increase after a so-called "BTC halving event" in April 2024.
- Just under half of the 40 panellists surveyed (47%) believe that Bitcoin is going to reach a new all-time high six months after the halving event.
- The price could be propelled further upward once the US Federal Reserve cuts the historically high benchmark rate, as analysts expect more liquidity to consequently flow into Bitcoin.
Top 20 Coins in January 2024
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- Solana (SOL)
- Cardano (ADA)
- Dogecoin (DOGE)
- Polkadot (DOT)
- Cosmos (ATOM)
- Chainlink (LINK)
- Stellar (XLM)
- Binance Coin (BNB)
- USD Coin (USDC)
- TRON (TRX)
- Monero (XMR)
- Avalanche (AVAX)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- EOS
- Shiba Inu (SHIB)
Future Top Coins
- Bitcoin (BTC)
- Ethereum (ETH)
- Solana (SOL)
- Cardano (ADA)
- Polkadot (DOT)
- Doge
- Shib Inu
- Chainlink (LINK)
- Stellar (XLM)
- Binance Coin (BNB)
- USD Coin (USDC)
- TRON (TRX)
Countries and Companies Thinking About Cryptocurrency
- The US Securities and Exchange Commission's recent approval of 11 Bitcoin ETFs (exchange-traded funds) makes it easier for individual investors to trade Bitcoin-related investment funds in the US stock exchanges.
- Major companies and institutional investors are showing growing interest in Bitcoin, which is likely to drive demand.
- The popularity of cryptocurrencies and their spreading usage brings up questions as to how governments should regulate the asset so as to protect investors while also acting against malicious actors.
Previous and Past Data
- The historical correlation between halving events and the bitcoin price exists, with the price of bitcoin substantially increasing approximately six months after the halving days from 2012, 2017, and 2020.
- The halving event has historically contributed to increased demand and, consequently, potential upward pressure on the price, highlighting Bitcoin's departure from traditional fiat currencies (government-backed money), which are subject to inflationary pressures.
Coming Bull Run
- The coming bull run is expected to happen six months after the halving event, based on historical data.
- The exact date of the coming bull run is not certain, but it is expected to happen sometime in the fourth quarter of 2024 or the first quarter of 2025.