The past three halvings – in 2020, 2016 and 2012 – have resulted in an average price increase of 16% over the 60 days that followed, according to data from the asset research firm 10x Research. The 2016 halving resulted in a decrease of 6% over the following 60 days, although it then rallied strongly throughout 2017.
What will happen when Bitcoin halves in 2024?
A Bitcoin halving event occurs when the reward for mining Bitcoin transactions is cut in half. Halvings reduce the rate at which new coins are created and thus lower the available amount of new supply. Bitcoin last halved on April 19, 2024, resulting in a block reward of 3.125 BTC.
What is the prediction for Bitcoin in 2024?
Bitcoin's Price History
Obviously, the world's oldest cryptocurrency has come a long way since its first recorded price of less than a cent. In March 2024, BTC set a new all-time intraday trading high by breaking through the $69,000 level and even topping out at $73,000 before declining in price.
What happened to BTC after halving?
After the halving, the rate of issuance of new bitcoin as well as the rewards for successful bitcoin miners are cut in half. There can only be 21 million bitcoin, and fewer new tokens entering circulation could impact bitcoin prices. That's why the halving is watched closely by miners and investors alike.
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