- CROX ROAD
- Posts
- Bitcoin: How Much Would Cost After Next Halving?
Bitcoin: How Much Would Cost After Next Halving?
As per Bitcoin halving dates history, the last three halvings took place in 2012, 2016 and 2020. The first Bitcoin halving or Bitcoin split occurred in 2012.
The Bitcoin⚡️ Energy Standard
December 12, 2022
Table Of Content
Content
Conclusion
FAQ
You May Also Like
External Links
Pantera Capital, the leading asset management business, has some analysts who predict that the price of Bitcoin might reach $149K in the future, but not until after the second halving, which is expected to take place in 2025.
The next halving is projected to take place on April 20, 2024, which will result in a reduction of the mining reward from 6.25 bitcoins per block to 3.125 bitcoins per block. This process, which occurs once every four years and is referred to as "halving," reduces the "block reward" to half its original value. This process will continue until the year 2140, at which point Bitcoin will have reached its fixed quantity of 21 million coins.
The experts at Pantera Capital are of the opinion that if the demand for new Bitcoins stays the same but the supply of new Bitcoins is cut in half, this might potentially drive the price of Bitcoins higher. Additionally, since many anticipate that the price of Bitcoin will rise as a result of the halving event, there has been an increase in the demand for Bitcoin. Ads Pantera observes that the normal bottom formation occurs one year and three months before the market is halved and that the market peaks an average of 1.3 years afterwards. This indicates that it will take a total of two and a half years to witness the effect of the halving. Pantera forecasts that the price of bitcoin will hit rock bottom on December 30, 2022, and that there will be a rebound early in 2024, which will be followed by a large surge following the actual halving event. If history were to repeat itself, this prediction would be accurate. Bitcoin has typically reached its lowest point 477 days before its halving, then rebounded in the days running up to the event, and then continued its ascent after the event. If history repeats itself, the second halving of the Bitcoin supply might result in the cryptocurrency reaching a price of $36K before the event and $149K after.
Even higher predictions
Tim Draper, a well-known venture investor, recently reiterated his earlier forecast that the price of bitcoin will be able to reach and even go beyond the level of $250,000. Related What does $250,000 per bitcoin mean?Tim Draper Elaborates on Why He Continues to Maintain His Bullish Outlook Prediction Draper has speculated on many occasions that the price of one bitcoin may reach $250,000 by the end of 2023. Bitcoin is now trading at $16,555, which represents a little rise of 5% following an earlier dip brought about by concerns of FTX contagion.
Conclusion
The pace at which new bitcoins are sent into circulation is reduced by half as a result of a process known as "halving," which also causes a kind of artificial price inflation inside the network that supports the cryptocurrency. It is anticipated that the rewards system will remain in place until the year 2140, which is the year in which the maximum supply of bitcoin, which is capped at 21 million, will be attained. After that point, miners will be paid fees for each transaction they successfully execute.
FAQs
What will Bitcoin look like after it has been halved?
The inflation rate for bitcoin as of right now is 1.78 percent. This inflation rate is projected to decline to 1.1% after the subsequent halving that will take place in April 2024. This ever-increasing scarcity has, to this point, corresponded with substantial upswings in the value of the leading digital asset. [C]oin is the most valuable cryptocurrency right now.
Does Bitcoin rise or fall after halving?
Each halving brings about a reduction in the pace of inflation, which, in turn, drives the price of bitcoins upward. People who use their personal computers to participate in the Bitcoin blockchain network as a transaction processor and validator will be rewarded with 6.25 bitcoins (BTC) for each block that they successfully mine beginning in the year 2022. Bitcoin miners are also referred to as "cryptographic currency miners."
How much would bitcoin be worth by the end of 2022?
The price of one bitcoin in 2022 is anticipated to fall between $10,000 and $28,000. The price of bitcoin is notoriously difficult to forecast and is considerably more sensitive to changes in market conditions than more conventional asset types.
That's all for today, see ya tomorrow! If you want more, be sure to follow our Twitter (@croxroadnews)
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
Reply