Bitcoin halving is a process that occurs every 210,000 blocks, which is roughly every four years. During this process, the reward for mining new blocks is cut in half. This is done to control the supply of Bitcoin and prevent inflation. The first halving occurred in November 2012, and the second halving occurred in July 2016. The third halving occurred in May 2020, and the fourth halving is expected in April 2024.
The halving process has historically been associated with a surge in Bitcoin’s price. The first halving saw Bitcoin’s price rise from $11 to $1,100, while the second halving saw Bitcoin’s price rise from $650 to $20,000. The third halving saw Bitcoin’s price rise from $8,000 to $64,000
The prediction of Bitcoin trading at $46,900 as of April 12, 2024, is based on the assumption that the current trend will continue. However, it is important to note that the future of cryptocurrencies is highly dependent on various factors such as market changes, ongoing developments in their systems, and more. Therefore, it is difficult to predict their future with certainty.
The algorithm suggests a nearly +50% increase one month after the halving, reaching $70,200, followed by a year-long rally to a new all-time high at approximately $175,000. This prediction is based on the assumption that the halving will lead to a decrease in the supply of Bitcoin, which will drive up its price. However, it is important to note that this is just a prediction, and the actual price may differ.
In conclusion, the next Bitcoin halving is expected in April 2024, with a current prediction of Bitcoin trading at $46,900 as of April 12, 2024. The algorithm suggests a nearly +50% increase one month after the halving, reaching $70,200, followed by a year-long rally to a new all-time high at approximately $175,000.
