Scheduled on 27th April 2024
What is Halving?
- Upgrade where block rewards to miners are reduced by 50%
- BTC Halving happens every 4 years
- Previous 3 halving events in 2012, 2016 and 2020 have seen large gains for Bitcoin gaining 10,000%, 2,900% and 750% respectively post upgrade.
What does this mean for Bitcoin (BTC)?
- Historically, BTC has made new all time highs after every halving which is seen as a major event for a crypto bull market
- BTC supply will reduce by 50% creating more demand due to limited token supply which could lead to price rise
- Rewards for mining BTC will be cut to 3.125 BTCs from the earlier 6.5 BTCs.
Analyst take
- With just under 1 year left for halving, we could potentially see BTC making big moves as historically the pre-halving period has also seen prices going up.
- BTC is currently trading 56% down from its all time high, there’s an opportunity to start accumulating the largest crypto as it’s once in a four year event.
Source: Oklink
Note: This is not an investment advice and we highly recommend that you do your own research
