2024 Bitcoin Halving Market Insights

By Bullcoins.info Apr 2, 2024

The Bitcoin halving is best defined as an automated event on the Bitcoin blockchain, which slows down the rate at which new Bitcoins are mined by half. The difficulty since the 2020 halving was set to 6.25BTC per block mined, which will now be reduced to 3.125 BTC.

How will the halving direct the Bitcoin and Altcoins market?

Looking back at past halving its fair to say that there is no instant price increase or decrease during these events. Its possible that the price of Bitcoin will slightly decrease before the halving takes place as holders decide to not take any chances thus withdraw or convert Bitcoin prior to the block difficulty increase. What’s interesting is the events to come within a few months or within a year of this increase taking place. During the past 3 halving cycles, the digital assets price has within a 6 month range past halving, increased rapidly and multiple times.

YearPrice at halvingWithin 6 Months
201210$1000% Increase
2016650$200% Increase
20209000$600% Increase

One could only speculate whether or not the price will increase rapidly after this years halving. For a long-term Bitcoin Price Prediction click here.

This article was made for informational purposes, one should always do their own due diligence and act accordingly to own boundaries.

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