Bitcoin’s Next Halving Approaches With 72.4% Progress Made. The Current Estimation Is That The Next Halving Will Occur On 17 March 2024. After Each Bitcoin Halving In The Past A Bull Run Has Typically Followed. Will It Happen Again This Time?
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Hi everyone, Slowly we're approaching the next Bitcoin halving, which is one of the biggest moments for Bitcoin. At this time the progress until the next Bitcoin halving is 72.4%! The Bitcoins halving occurs approximately every 4 years. Progress Until Next BTC halving from @ BTC_halving on Twitter For those who don't know what the Bitcoin halving is: The Bitcoin halving occurs every 210,000 blocks on the Bitcoin blockchain. In the current cycle the current block reward is 6.25 BTC. So this means that after the halving the block rewards will be 3.125 BTC. This will result in a decrease in generated Bitcoin. It's introduced in the Bitcoins code to decrease the inflation periodically, so the demand should increase while the supply becomes less. The exact date is not known since the halving starts after every 210,000 blocks, but the current estimations are on 17 March 2024, 22:55 UTC according to www.nicehash.com. Bitcoin halving estimated countdown A visualization of the Bitcoin price with each halving marked: BTC Rainbow chart with all halvings indicated As you can see in the graph above, the Bitcoin prices are in 4 year cycles. So historically after every BTC halving there was a bull run and then followed by a bear market next until the next halving. Now the big question is if we see a repeat of the 4 year cycles in the past and if there will be a bull run after the fourth halving. What do you guys think? ChemicalGreek Sources: submitted by /u/ChemicalGreek |
