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Sailing the Cryptocurrency Rapids: Unraveling the Bitcoin Halving Phenomenon of 2024
BTC Price Predictions: Geopolitical Tensions, ETH Spot Approval and Other External Factors
Valora Linx
April 17, 2024
BTC Price Predictions: Geopolitical Tensions, ETH Spot Approval and Other External Factors
Bitcoin Halving 2024: A Pivotal Moment for Cryptocurrency Investors
As the 2024 Bitcoin Halving approaches, excitement builds within the cryptocurrency community. Slated for the days of April 19 or 20, this pivotal event will halve the mining block reward from 6.25 BTC to 3.125 BTC. This reduction in supply could potentially increase Bitcoin's price as its scarcity intensifies.
=== HISTORICAL HALVINGS ===
Year | Halving Date | New BTC Per Block Before | New BTC Per Block After | Price on Halving Day | Price 150 Days Later |
|---|---|---|---|---|---|
2012 | November 28, 2012 | 50 BTC | 25 BTC | $12.35 | $127.00 |
2016 | July 9, 2016 | 25 BTC | 12.5 BTC | $650.63 | $758.81 |
2020 | May 11, 2020 | 12.5 BTC | 6.25 BTC | $8821.42 | $10,943.00 |
Past halvings in 2012, 2016, and 2020 led to impressive price rallies as the reduced pace of new Bitcoin issuance increased demand under steady market conditions. Current optimism is fueled by these precedents, with stakeholders eyeing potential gains.
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