The next Bitcoin Halving will likely occur in April 2024. But, with all the news floating around the question that comes to our mind is- What, When, and How?
- What Is Bitcoin Halving?
- When Is Bitcoin Halving 2024?
- How to go about it?
Don’t worry! Your answers are right here!
Read below to learn everything about the Bitcoin Halving Event.
What Is Bitcoin Halving?
In simple words, Bitcoin Halving occurs when the incentives for mining Bitcoin transactions are cut in half. Also, known as “the halvening” ” BTC halving takes place every four years when the blockchain network is done with opening 21,000 more blocks, a standard set by creators for the introduction of a new cryptocurrency.
The Bitcoin halving history dates back to 2009 when the successful minors were rewarded with 50 Bitcoins every 10 minutes. As per the previous Bitcoin halving dates, the last event was held in May 2020 with a reward of 6.25 bitcoins every 10 minutes.
Who Is The Creator Of Bitcoin Halving?’
As per the email records of Satoshi Nakamoto, the pseudonymous creator of Bitcoin, it is believed that the whole idea of halving the BTC halving event every 4 years is a part of his creativity and intelligence.
One fun and unique fact regarding Bitcoin halving is that Nakamoto programmed it in a way that the block reward would keep decreasing over time.
No wonder why is it called halving!
Is This A Never-Ending Event?
No, BTC halving will come to a halt once the number of Bitcoin in circulation reaches 21 million which is likely to occur near the year 2140.
When Is The Next Bitcoin Halving Event?
The next Bitcoin Halving event will take place in April 2024 (between April 19 & 20) when the block reward will fall to 3.125 BTC.
Will Bitcoin Halving Increase Price?
Since halving reduces the rate at which new coins are created, it is believed that the bitcoin prices increase due to less supply as compared to demand.
Here are the price trends for Bitcoin Halving in the previous years-
Should You Invest During The Bitcoin Halving Period?
Keeping in mind that Bitcoin halving 2024 is around the corner, the next question that arises is whether you should invest during this period or not.
Well, as per the Bitcoin halving effect on price in the past, it is assumed that Bitcoin halving 2024 will be the right time for investors to invest in the largest cryptocurrency in the world.
The bitcoin has shown a rapid ascent from $42,000, reaching a peak of $72,000 by March 12, setting a fresh all-time high. This milestone was achieved just a week after surpassing the previous peak of $68,729 in 2021. Throughout this period, the US Federal Reserve kept interest rates steady. Nevertheless, there are anticipations of rate cuts later in 2024.
Hence, what the future has is unpredictable.
Tips For Investors –
- Go With The Flow
We are almost at the start of a new bull run which means it is immensely important to stay up-to-date with the recent trends. For example: After Bitcoin’s initial surge, attention was diverted to other cryptocurrencies like Ethereum and Solana. Hence, navigating the market becomes the need of the hour to avoid missing larger profitable assets. Investors can look out for options like fixed rewards to ensure a steady value growth of their assets.
- Sometimes The Opposite
While you go with the flow, it is also important to find new narratives. As an investor, you should be open to new narratives that can shape the crypto market in the coming years.
- Let’s Maximise Your Profits
It is believed that the zenith of a bull run happens approximately 500 days following a BTC Halving. So, if you are looking forward to maximizing your profits, we suggest you maximize your holdings around the anticipated peaks and simply accumulate your assets when it’s not the right time, that is, during the dips.
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- Rules & Regulations
While you explore the crypto market, make sure to keep a check on all the changes happening in the rules and taxation policies to safeguard your assets. Using platforms like Giottus can help you a lot with your taxation, thus helping you avoid unnecessary future complications.
Bitcoin Halving 2024 Price Prediction
According to Bitcoin Halving Price Prediction, here’s what you can expect in 2024 :
| BTC Price Prediction | Potential Low | Potential Average | Potential High |
| Bitcoin Halving Price Prediction – APRIL 2024 | $ 60,000 | $71,000 | $ 79,000 |
| Bitcoin Halving 2024 Price Prediction | $35,000 | $77,500 | $ 120,000 |
However, there is an addition to the Bitcoin Halving news update. It is said that this year’s halving will be different from the rest of the Bitcoin halving.
Here’s why-
Reasons For BTC Halving 2024 To Be Somewhat Different –
- This time bitcoin has scaled new highs, reaching an all-time high before its halving event.
- The Spot Bitcoin ETFs have played a major role in shaping the current market which did not exist at the time of prior halvings.
- As per Coinbase, the bitcoins that are available to trade have been declining since 2020. However, it is not that bad since it points towards long-term investors who are not willing to sell due to short-term price variations.
- Another aspect impacting this year’s halving is the decreasing issuance rate due to uncertainties surrounding the potential reduction of the U.S. Federal Reserve’s benchmark rates. As per the digital asset manager of Grayscale, “The eagerness of major central banks to reduce interest rates despite strong economic growth has likely contributed to an increase in market inflation expectations.”
And that’s a wrap! Hope you got all your answers while going through the piece!
Frequently Asked Questions
Q: Is it important to invest in crypto markets?
A: Yes, keeping in mind the future, investing in crypto markets is as important as investing in any other physical asset.
Q: What is the new bull run?
A: A bull run basically refers to a period during which the market prices increase. Investors who believe that market price will increase over time are known as “bulls”.
Q: Is Bitcoin Halving necessary?
A: If we go by the creator’s words, bitcoin halving is an important event in the calendar. Also, this event is a predetermined protocol to maintain the integrity of cryptocurrency and hence cannot be ignored at least till 2140.
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Disclaimer: This post is intended solely for informational purposes and should not be taken as legal, tax, investment, financial, or any other form of advice. Although all the information provided is true to the best of our knowledge, it is advisable to research well before making any kind of investments or decisions in general. The team of ReadingCrypto bears no responsibility in the event of any adverse outcomes.
