Hold onto your hats, crypto enthusiasts! Bitcoin is gearing up for its much-anticipated “Halving” event. The next (BTC) halving is and could have a dramatic impact on the cryptocurrency’s price. Bitcoin likely to occur in April 2024 Halving is a process that happens every four years, where the reward for mining new bitcoins is cut in half. This means that the supply of new Bitcoins is reduced, making them more scarce and more valuable. The halving cycle is expected to continue until all 21 million Bitcoins have been mined. . At that point, the reward for mining will be solely comprised of transaction fees. This is estimated to occur in the year 2140 Imagine a baker who is known for producing delicious bread. The bread is so popular that people are willing to pay a high price for it. This ensures that the bread remains scarce and valuable. The baker, in order to maintain the quality and desirability of the bread, decides to limit the amount of bread that is produced each day. The Bitcoin halving is similar to the baker’s decision to limit the production of bread. By reducing the amount of Bitcoin that is created each year, the halving helps to ensure that Bitcoin remains a scarce and valuable asset. When Bitcoin was first introduced, miners received 50 BTC as compensation for verifying transactions and adding new blocks to the blockchain. This generous reward served as an incentive to attract early adopters to the network and contribute to its growth. For many of us, those were the glory days of crypto. This impending halving is expected to trigger a surge in demand for digital assets. Oh, and did I mention FOMO? Add that in. Brace yourselves for a rollercoaster of scarcity, skyrocketing prices, and a wave of new opportunities in the crypto realm. Savvy investors are meticulously assessing promising crypto projects. The return on the right investments can be life-changing. Those who stay on top of these developments can identify early-stage projects with high potential. “The future of finance is digital. And Bitcoin is leading the way.” — Michael Saylor What happened the last time Bitcoin halved? In the last halving on May 11, 2020, witnessed a remarkable rally, soaring from $6,877.62 in April to $8,821 at the time of the event. Despite the inherent volatility of the cryptocurrency market, Bitcoin’s price continued to climb, reaching a staggering $49,504 on May 11, 2021. Bitcoin’s price In 2012 and 2016, Bitcoin’s price experienced a similar trajectory, with the strongest gains occurring after the halving events. This pattern of post-halving price appreciation has been observed in previous halvings as well. While there were significant drops in value around 12–17 months later, , suggesting a long-term bullish trend. Bitcoin’s price remained considerably higher than pre-halving levels Market Dynamics Unleashed As Bitcoin dances through the alving, the market does a happy jig. Prices surge, demand skyrockets, and guess who steals the spotlight? Peripheral services! From coins to tokens, projects to dreams — the market resurrection after the crash opens doors for the bold and the curious. There is a lot happening in crypto right now. Binance CEO and pleading guilty to violating anti-money laundering requirements. This is a shocking fall from grace for the leader of the world’s largest cryptocurrency exchange. Changpeng Zhao (CZ) is stepping down Binance, as part of the deal, will pay regulators and prosecutors penalties of $4.3 billion and also , conducting an unlicensed money transmitting business, and sanctions violations. plead guilty to criminal charges relating to money laundering He is barred from involvement in Binance’s business until three years following the appointment of a monitor to ensure Binance complies with all laws, according to court documents. But he was allowed to maintain his majority ownership of the exchange. Zhao also agreed to pay a $50 million fine. But hold your breath — We’re also in the thick of . A flood of filings for spot Bitcoin and Ether exchange-traded funds (ETFs) has excited the crypto market. Bitcoin ETF approval talks A spot crypto ETF would track the market price of the underlying crypto asset, giving investors exposure to the token without having to buy the currency. The citing the potential for fraud, but that could soon change after it lost a legal battle in August. SEC has previously denied all spot bitcoin ETF applications, And that’s not all! The oracle whispers of a looming Bull run. Experts are dusting off their crystal balls, predicting a surge that could redefine the crypto landscape. Can you keep up with the crypto rollercoaster? We’re still awaiting the for his fraudulent FTX activities. sentencing of SBF “In the world of crypto, every Halving is a rebirth, a chance for new dreams to take flight. Embrace the scarcity, ride the surge, and let the Bull run set the stage for your crypto adventure!” — Norm In the treacherous realm of fiat currencies, central banks often wield the dangerous weapon of overprinting. The money machine relentlessly churns out new bills. This leads to a gradual erosion of its value. Bitcoin, on the other hand, halves due to the design of its software. The still unidentified and predetermined a maximum of 21 million coins. This scarcity sets a natural limit on inflation, ensuring that the value of Bitcoin is not subject to the whims of central banks. mysterious founder Satoshi Nakamoto This scarcity also leads some to criticize Bitcoin’s design. These observers feel the finite supply and rather than spend their Bitcoin. This contributes to the volatility because users are hoarding coins only to cash out at key levels. halvings encourage users to save (HODL) Investors make the ultimate decisions on which actions they take in the market. Remember, not your keys, not your coins. Embrace the digital revolution and seize the opportunity presented by . Nearly 89% of those 21 million Bitcoins that can ever exist have already been mined. Approximately 900 new bitcoins are mined and added to the digital supply each day. Bitcoin’s halving How do you get ready? To fully unlock the boundless potential of the halving, it is essential to approach it with a well-informed strategy. Competition for the reduced block rewards will intensify, demanding greater efficiency and innovation in mining operations. Miners will need to , such as transaction fees and pool fees, to maintain profitability. For miners, the halving will necessitate a strategic shift to adapt to the changing incentives. explore alternative revenue streams can capitalize on the halving by conducting thorough research and making informed investment decisions. and long-term growth potential is crucial for navigating the post-halving market. across different asset classes can further mitigate risk and enhance portfolio resilience. Crypto enthusiasts Identifying promising digital assets with strong fundamentals Diversification Be sure to address their concerns and foster a collaborative environment. As an advisor, I’ve seen community buzz and hype have a tremendous positive impact. A dedicated community of users and supporters is crucial for the long-term success of any crypto project. Founders and developers should actively engage with their community. Be sure to increase now. Engage in active marketing and public relations. Some of the best channels to actively promote your project include social media, blog posts, and industry events. This could increase awareness of the project and attract potential users and investors. visibility and brand recognition Conclusion The halving presents an opportunity to embrace the transformative power of blockchain technology. Exploring decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and other innovative use cases can open doors to untapped potential in the crypto ecosystem. As the Bitcoin halving unfolds, it is time to prepare, adapt and embark on an exciting journey.

The is an opinion piece based on the author’s POV and does not necessarily reflect the views of HackerNoon.

The writer is smart, but don't just like, take their word for it. #DoYourOwnResearch before making any investment decisions or decisions regarding your health or security. (Do not regard any of this content as professional investment advice, or health advice)

Bitcoin’s Halving Frenzy: The Countdown to Crypto Gold

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