Bitcoin halving (2024)

FAQs

When was Bitcoin halving in 2024? ›

The Bitcoin (BTC 0.27%) halving (also known as the halvening) event was, perhaps, grossly underappreciated this year. By pure happenstance, the April 19 halving took place while the cryptocurrency market obsessed over the SEC's approval of spot Bitcoin ETFs.

The most recent bitcoin halving took place on April 19, 2024. At the time, the reward for each block of mined bitcoin was cut in half from 6.25 BTC to 3.125 BTC. This event occurs approximately every four years, or more precisely, every 210,000 blocks.

The first halving took place at block height 210,000 in November 2012, while the second halving was at block height 420,000 in July 2016. The third halving was at block height 630,000 in May 2020 and the fourth halving took place at block height 840,000 in April 2024.

The crypto sector is likely feeling the effect of reduced bets on U.S. interest-rate cuts following recent economic data and statements by Federal Reserve officials. Cryptos are sensitive to borrowing costs because higher rates give fewer incentives for investors to buy riskier assets.

“It's pretty much Economics 101” that bitcoin prices go up after halving, according to Sevens Report analyst Tom Essaye, who explained that so long as demand doesn't decrease and new supply goes down, the “only thing left to move is price.”

Bitcoin halving is considered bullish because each event reduces the rate at which future bitcoins are created. This then boosts the scarcity and value of existing bitcoins.

A recent report predicts that Bitcoin will reach a new all-time high in 2024. Bitcoin (BTC) is expected to reach a new record of $88,000 (€82,000) throughout the year, before it settles around $77,000 at the end of 2024, according to a new report. The cryptocurrency's current price sits at around $43,000.

Markus Thielen, the head of research at 10x, says the halving is “associated with price increases due to reduced supply” but investors will have to wait for a price peak, which typically comes 500 days after a halving.

Specifically, as per Bitcoin Price Prediction 2028, the potential BTC price range in 2028 is $174,063 to $192,908. The average price is also expected to be $183,485, demonstrating continued positive momentum.

How high could Bitcoin go in 5 years? ›

Bitcoin showed notable strength in 2023, ending the year positively. This has raised expectations for the price to continue rising in the long run, potentially turning into a bullish market later in 2024.

You might want to sell your crypto under some specific circ*mstances. If there is a lack of blockchain development progress or a string of negative news, you might want to sell your cryptocurrency. If you've reached your investing goals or want to reallocate your holding, you might want to sell your cryptocurrency.

Bitcoin prices are volatile for many of the same reasons other investments are—supply and demand and how investors react to hype, news, and regulatory actions. The main difference between bitcoin and other investment prices is the magnitude in which its price changes.

A recent report predicts that Bitcoin will reach a new all-time high in 2024. Bitcoin (BTC) is expected to reach a new record of $88,000 (€82,000) throughout the year, before it settles around $77,000 at the end of 2024, according to a new report. The cryptocurrency's current price sits at around $43,000.

Again, the only way that Bitcoin has a price is because traders decide that it's worth something. Of course, the halving has some effects on the Bitcoin ecosystem. For example, the reduced reward for miners means that Bitcoin's price will need to rise over a longer time frame for miners to continue mining profitably.

Based on our technical indicators, Bitcoin Cash's 200-day SMA will rise in the next month and will hit $ 390.94 by Jun 29, 2024. Bitcoin Cash's short-term 50-Day SMA is estimated to hit $ 477.21 by Jun 29, 2024.