Crypto investors and critics always have their eyes on the next big move in the crypto industry. ‘Bitcoin Halving’ is one such event. It takes place every four years. Bitcoin Halvings are expected to take place in 2024, 2028, 2032, 20236, 2040 and 2044.
The next Bitcoin Halving is expected to take place during the early or second quarter of 2024. The investors and traders are getting ready for it and why not? It is not something to be missed at all! Why is it so that they are eyeing the event so anxiously?
One of the most important reasons is that when a Bitcoin was halved previously the last three times, a new record high was noted. In Bitcoin Halving, the miners earn a reward after every 210,000 blocks are mined or 4 years (estimated). Bitcoin is currently valued at 23100.00 USD. It is expected that Bitcoin’s value will increase after the halving takes place in 2024.
Many investors and crypto enthusiasts believe that the next Bitcoin halving is going to bring a positive change in Bitcoin’s price for a longer period of time. This is so estimated looking at the previous halving events. So, let your Bitcoin wallet be filled with more Bitcoins to gain more after the halving event.
Bitcoin halving is an event to keep the Bitcoin supply under control. Miners are also waiting to see how their rewards are affected by the halving event. Whenever halving happens, the number of miners is reduced. It will be indeed interesting to see how the next halving affects the miners in numbers this time.
According to many crypto experts, Bitcoin will reach $100K after the halving takes place and towards the end of 2024. With the big banking names going down so quickly, Bitcoin has won more trust votes.
Even Standard Chartered analyst Geoff Kendrick said in a note that with banks like Silicon Valley going down, Bitcoin has become more trustworthy. He further went on to say that
“We see the potential for Bitcoin (BTC) to reach the USD 100K level by end-2024, as we believe the much-touted ‘crypto winter is finally over”.
Many experts also believe that what happened with the banking sector in the US will also have a long-term but positive impact on Bitcoin and any events related to Bitcoins.
The next Bitcoin halving has already hinted the investors and traders to invest more in Bitcoins. The big-time price predictions circulating all over the internet are another reason that most of us are eyeing the halving event.
What really will happen is hard to commit. But seeing the past trends and words from crypto experts, this Bitcoin halving is going going to be big. Bitcoin has seen so many ups and downs since the last year, that investors are looking towards its future events and what effects it will have on the Bitcoin price.
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