The bearish digital currency market in recent years has lowered the price of Bitcoin to the range of $16,000. Those who bought Bitcoin at the peak of its price today have faced a heavy loss at these prices. Maybe the amateurs are sellers at these prices, but the professionals of the cryptocurrency market have their eyes on an important event. They believe that this event can once again bring the price of Bitcoin to its peak price.
The halving is the event that professional traders look forward to. Halving, or the halving of Bitcoin miners' rewards, happens approximately every 4 years. The main reason for halving is the decrease in Bitcoin supply. In financial markets, a decrease in the supply of a product always leads to an increase in demand. This issue increases the value of that product in the market.
According to this issue, the creator of Bitcoin has considered two parameters to reduce the supply of Bitcoin:
1- Limiting the supply of Bitcoin:
At the beginning of the creation of Bitcoin, Satoshi limited it to 21 million coins. This relationship will happen over time. No more bitcoins will arrive. At that time, if the cryptocurrency market continues to exist, the owners will have this dream in the name of Bitcoin.
2- Bitcoin halving
A fan that has been consistently predicted to reduce the supply of Bitcoin by Satoshi is halving. Why this event and the subsequent halving of Bitcoin reviewed together.
There are theories about these two actions of Satoshi, the most interesting of which is related to Vitalik Buterin.
Vitalik Buterin says:
Bitcoin was created with the aim of simulating a commodity like gold. There is only a limited amount of gold in the world, and the more gold is mined, the harder and harder it is to find the remaining reserves.
Because of this limited supply, gold has maintained its value as a means of international exchange as well as savings for more than six thousand years. There is hope that Bitcoin will also have a similar fate.
Buy cheap Tether
If the price of Bitcoin is going to increase during the halving, smart Iranian traders will benefit the most from it. Of course, this benefit goes to those who can buy bitcoins with cheap Tether. When you buy Bitcoin at the cheapest price of Iran Tether, you can save more coins for yourself.
Due to the law of supply and demand in financial markets, BTC halving can have a psychological effect on the digital currency market. This psychological effect is the low supply of Bitcoin, which can cause the price of BTC to rise in the digital currency market.
As mentioned, Bitcoin has been trading in the 16,000 channel for several months after its terrible fall from the $60,000 channel. It seems that crypto market professionals are waiting for the next Bitcoin halving.
When will the next bitcoin halving happen?
Considering that 6 blocks are found on average every hour and the halving event happens after 210 thousand blocks. If we put these numbers together, we have to wait for bitcoin halving every 4 years. The last bitcoin halving happened in 2020, and the next halving can be predicted to happen in 2024.
According to most experts, the year 2024 can mark another rise for the price of Bitcoin. Crossing the 60 thousand dollar channel and reaching the peaks of 80 or even 100 thousand dollars. Are you ready for the next bitcoin halving?
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