So, what is the Bitcoin halving, and why is everyone bullish about it? 

₿ Let's dive in…

BTC Halving

^{Source: https://smartvalor.com/en/bitcoin-halving-2024}

The Bitcoin halving is an event where the reward for mining new blocks is halved, meaning miners receive 50% less BTC for verifying transactions. This mechanism is built into the heart of Bitcoin to create scarcity, so it becomes progressively harder to mine BTC over time. The 2024 halving will reduce the block reward from 6.25 BTC to 3.125 BTC, a significant milestone in Bitcoin's journey.

Does the Bitcoin halving affect the price?

For starters, previous halvings have historically led to an impressive rally in the price of Bitcoin. It's not just speculation; it's the simple economics of supply and demand. With the reduction in new supply, assuming demand remains constant or increases, the price is likely to go up. But there's more to my bullish stance than just historical patterns.

Here's how Bitcoin ₿ behaved in the year leading up to each halving:

• Halving 1, 2012: +385% and 5,089% in the year after.

• Halving 2, 2016: +142% and 284% in the year after

• Halving 3, 2020: +17% and 559% in the year after

The halving serves as a reminder of Bitcoin's finite nature -> there will only ever be 21 million BTC. This scarcity is a key driver of value. 

I see the upcoming halving as a crucial moment that will further cement Bitcoin's position as a cornerstone of the future financial landscape. It's not just about potential price appreciation, it's about the shift towards a more equitable and decentralized financial system. The halving is a beacon for change, signalling a "step closer" to a world where financial sovereignty is accessible to all.

When is the BTC Halving 2024?

At the current rate, the next halving is expected to happen on or around 15 April 2024. Given that halving dates are based on current transaction rates, halving dates can only be predicted.

As we countdown to the halving, I'm reminded of the immense potential that lies within the Crypto space.

Stay bullish, my friends, but also question and criticize trends.

Build your own opinions. The best is yet to come. ₿

Shuka.eth