Wednesday, March 27, 2024

Will the next Bitcoin Halving maintain the usual price trend after halving?

So much anticipation toward the fourth Bitcoin halving event expected to take place next month. Halving is a deflationary mechanism aimed at controlling BTC supply by slashing miners BTC reward by 50%. Halving usually affect Bitcoin price prior and after the event, in turn it yield a ripple effect on the whole industry. Some analysts agreed that halving determines cryptocurrency season, bull or bear as such the anxiety in the space. A lots of new millionaires will be made while other will remain side watcher because they can’t spot the opportunities in the market.

During the first BTC halving in 2012 where miners reward was reduced from 50 to 25, BTC price was around $13 but it rose to over $1,152 few months after the halving presenting the first price impact after halving. The second halving witness similar trend, in 2016 when reward was reduced from 25 to 12.5, the price was around $664 and it reached a peak of $17,760 few months after halving. The third halving maintained similar trend in 2020 when block reward was slashed from 12.5 to 6.25, the price was around $8,500 and after halving its set an ATH of above $69k few months after halving.

So this price trend has garnered so much prediction and speculation in the market where some believe BTC will hit above $85k before halving and over $180k after halving. With BTC already retesting its previous ATH, many enthusiasts are eager to witness the next BTC ATH but only the wise ones understand that they need to position well to benefit from this speculation.
Right now there is so much awareness in the industry compared to what was obtainable in the past. Key world financial players are now involved which has bring more exposure and increase uncertainty in the industry.

Some expert have noted that BTC usually maintain a similar circle as such users need to understand the trend and history to stay afloat. I have also noticed some top exchanges rolling out events to celebrate/welcome the halving. One that caught my attention is the learn to earn on Bitget where users are encourage to showcase their understanding of the halving to benefit some $BGB rewards. Such event will increase users understanding of the Bitcoin halving and further increase their interest in the industry. It will also help them to prepare adequately for it.


No comments:

Post a Comment