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 halvings 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
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.
Best regards Artem Shevelev
İşlem aktif
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We are just in the middle of pre-Halving phase, which means we are developing sideways Bitcoin price action during this phase. Volatility can be the issue, but hold on tight if your investing in long term (4+ years)
This is based only on the repeated hype by many. For the market the halving is a non-event. Nothing will happen that day that any one but the miners will experience. The market proceeds like before, so after. The historical charts show that. The miners are the only participants affected, and they have been preparing for the drop of their revenue. The market in general knows about the halvings implicitly and always. It’s what propels the steady uptrend since inception. The market knows everything, and expresses it in its price. There is enough supply in the market to buffer the very real supply shock temporarily. But this is critical now with the new demand from the exchange-traded funds. People speculate all kinds of things… some want the market to crash before the halvings, others think it is going crazy. Neutral analysis of the charts show none of that related to these events. The market develops according to its natural laws, expressed ingeniously by Ralph Nelson Elliott according to the rhythms of social mood of its participants, not by individual events.
SpartaBTC
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Now the accumulation zone for both bitcoin and altcoins. In altcoins it is more traceable - long-term horizontal channels. Volume growth. Many altcoins started pumping at the breakdown of resistance of accumulation channels.
dinchun
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Love it mate
bazzafx
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is there a date marked out for this event?
ArShevelev
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@bazzafx, Reward-Drop ETA date: 19 March 2024, 07:23 UTC
nabil92nar
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What the Hell is Halving Going to do with the Btc Price ?
ArShevelev
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@nabil92nar it change the reward for miners, therefore it decreases inflation speed which triggers bull run
ShawnMCR
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Keep them coming 💎
SpyMasterTrades
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What's your target peak price for the next halving cycle?
ArShevelev
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@spy_master believe it or not I think btc will be around 40k by the time of next halving, rest we about to find
People speculate all kinds of things… some want the market to crash before the halvings, others think it is going crazy. Neutral analysis of the charts show none of that related to these events. The market develops according to its natural laws, expressed ingeniously by Ralph Nelson Elliott according to the rhythms of social mood of its participants, not by individual events.