Bitcoin Halving: What’s in Store for Crypto’s Big Event?

April 17, 2024

2

Are you ready for Bitcoin’s big event? The cryptoverse is buzzing with excitement as the next Bitcoin halving approaches. But what exactly is a halving, and what does it mean for the future of everyone’s favorite digital currency?

The Halving

Simply put, a halving is a change in Bitcoin’s blockchain technology that reduces the rate at which new Bitcoins are created. It’s like turning down the faucet on a never-ending stream of virtual gold. And here’s the kicker: past halvings have sparked massive rallies in Bitcoin’s price.

In 2012, 2016, and 2020, Bitcoin’s value skyrocketed after each halving. Just a year after the 2020 event, Bitcoin was up a staggering 545%. Now, with the next halving set for April 20, everyone’s wondering: will history repeat itself?

Some experts are bullish, predicting another epic surge. Bitfinex analysts foresee a potential 160% increase in Bitcoin’s price over the next 12-14 months, possibly reaching over $150,000. Talk about hitting the jackpot!

But not everyone’s convinced. David Mercer, CEO of LMAX Group, thinks otherwise. He’s cautious, pointing out that this time might be different. With Bitcoin already reaching new all-time highs before the halving, uncertainty clouds the market.

So, what’s the deal with this halving, anyway? Well, when it happens, the amount of Bitcoin available as rewards for miners gets cut in half. This makes mining less profitable and slows down the production of new Bitcoins. Some folks argue that this scarcity makes Bitcoin even more valuable.

But wait, there’s more! The recent surge in Bitcoin’s price might not solely be because of the halving. Factors like the introduction of U.S. spot Bitcoin exchange-traded funds (ETFs) and the anticipation of new institutional investments have also fueled the fire.

Is the Bitcoin Halving Priced in?

Now, let’s talk about the elephant in the room: is all this hype already factored into Bitcoin’s current price? Some analysts think so. They believe that the halving’s impact might have already been baked into Bitcoin’s recent rally. But hey, only time will tell.

In the end, whether you’re a die-hard Bitcoin believer or a skeptic, one thing’s for sure: the halving is a big deal in the crypto world. So, buckle up and hold on tight because the ride’s just getting started. Who knows? We might be in for another wild ride to the moon!

Final Words

In the short term, we can go either direction. The halving, ETFs, Main stream attention are all bullish signals. However, the summers are often boring and downward as big traders take their well-deserved vacations. From my point of view, we’re going to see a great year, but I’m wary about the next couple of months.

If you have capital side-lined, wait for the right moment to enter the market. If you are all in already just hold and enjoy the ride. At least that’s what I’m doing.

If you enjoy our content, you can support us by signing up for a Bybit Account with our referral link. Don’t forget to claim your bonuses if you buy/sell or trade crypto.

You might also like our recent trading blogs about Hong Kong’s ETF approvals, and Bitcoin’s Pre-halving crash.

bitcoin
Bitcoin (BTC) $ 71,311.11 6.97%
ethereum
Ethereum (ETH) $ 3,700.08 19.87%
bnb
BNB (BNB) $ 598.56 3.93%
solana
Solana (SOL) $ 184.52 7.18%
pepe
Pepe (PEPE) $ 0.000011 18.35%
dogecoin
Dogecoin (DOGE) $ 0.16377 8.47%
shiba-inu
Shiba Inu (SHIB) $ 0.000025 6.65%
injective-protocol
Injective (INJ) $ 28.20 15.85%
sei-network
Sei (SEI) $ 0.583439 12.47%
tron
TRON (TRX) $ 0.123798 1.93%
×