Bitcoin Halving in 2024 ! Are You Ready ?

Every four years or so, cryptocurrency investors encounter a phenomenon called the Bitcoin Halving.

In the cryptocurrency industry, which is full of volatility and great profit potential, the halving is the moment that investors and crypto market players are waiting for to reap profits.

What is Bitcoin Halving?

Halving is a reduction in the reward miners receive (the term is mentioned in the Bitcoin code). Halving occurs once every four years, or rather every 210,000 blocks of transactions. As the name suggests, each halving cuts the amount of Bitcoin miners receive per block in half. At the launch of Bitcoin in 2009, miners received 50 Bitcoin per block, but the reward was reduced to 25 or half in 2012, to 12.5 in 2016, 6.25 tokens in 2020, and is scheduled to drop to 3.125 coins in 2024 which is expected to happen in April, But this could change because the time it takes to generate a new block can be slow or fast, depending on a number of factors.

This phenomenon is expected to occur 64 times and the last halving will occur around 2140. And at that time, bitcoin will reach its maximum amount of 21 million bitcoins.This phenomenon is expected to occur 64 times and the last halving occurs around 2140. And at that time, bitcoin will reach its maximum amount of 21 million bitcoins.

Effect of Halving on the Market

Halvings often create significant price spikes in the bitcoin asset price, from time to time. For example, within 12 months the price of bitcoin rose by 8000% in 2012. The next halving in 2016 saw bitcoin increase by 1000%. And the last halving, in May 2021, triggered further increases with a record price of almost $69,000 in November 2021.

With the phenomenon of price increases after halving in the past, it is expected that the increase will occur again in the next halving. Moreover, with the adoption and recognition that bitcoin is a valuable digital asset, by major companies and countries in the world. This makes speculation of a bitcoin price increase even more attractive.

But in this case the increase will not only be experienced by bitcoin, along with the increase in the price of bitcoin, usually followed by an increase in the price of alt coins that have skyrocketed, such as ETH, BNB, Solana, Cardano and others.