What Is the Halving Event?
Great question, and we have a comprehensive guide to the Bitcoin halving. But here’s a simple explanation: think of Bitcoin as a digital gold mine. Instead of using traditional tools like shovels, miners use computers to solve complex puzzles. When they solve one, they receive Bitcoin as a reward. This process is called “mining,” and it’s how new Bitcoins are created and added to the market.
Every four years or so, the reward for mining new blocks is halved in an event called the “halving.” It’s designed to reduce the rate at which new Bitcoin is introduced into circulation, helping maintain its scarcity.
Initially, miners received 50 Bitcoins per block. After the first halving, it dropped to 25, then 12.5, and so on. The halving makes Bitcoin scarcer, and scarcity often leads to increased value. It’s like if gold became harder to find—its price would likely increase.
Recent Bitcoin Price Movements
Since we started writing this post, Bitcoin has already surpassed its all-time high in several fiat currencies, including those of South Korea and Australia. But the big focus remains on the US dollar.
This recent surge in Bitcoin’s price highlights the declining value of various fiat currencies due to inflation. Inflation steadily reduces the purchasing power of money over time.
Market experts suggest that Bitcoin has entered new price territory after breaking the significant $57,000 resistance level. With the halving event coming up in 49 days, Bitcoin’s price could continue to rise, following patterns seen after past halvings.
Bitcoin үшін келесі не бар?
It’s beginning to look inevitable that Bitcoin will surpass its ATH in dollars, and it’s really just a question of when, according to many Bitcoin maximalists. Most of the Criptochipy team would be shocked if there were a pullback before the high is reached, and we wouldn’t be surprised if the usual dip before a halving doesn’t occur this cycle. But in the unpredictable world of crypto, anything can happen.
Historically, Bitcoin’s price has increased by at least 270% after each halving. For example, after the 2012 halving, Bitcoin’s value skyrocketed from $12 to $964 within a year. In 2016, it went from $660 to $2,500, and after the 2020 halving, it jumped from around $8,500 to $68,783 in just over a year.
These price increases are often driven by specific factors. For instance, the 2017 surge to $17,000 was fueled by retail investors, while the 2021 rise to nearly $69,000 was driven by institutional investment. In 2024, institutional interest is likely to play a big role, as evidenced by large daily investments into newly launched Bitcoin ETFs in the US.
2024-2025 жылдарға арналған Bitcoin бағасының болжамдары
Some analysts predict a “left-translated cycle,” meaning the peak will happen earlier than previous cycles. In that case, the peak of this cycle (which began in December 2022/January 2023) could occur in 2024 instead of 2025. If that happens, we might see a “blow-off top,” a sharp rise over a few months followed by a drop before the cycle ends in late 2026. However, with massive institutional investment, it’s impossible to predict for sure.
Some analysts expect a 3x increase from the November 2021 ATH, suggesting a price of around $150,000–$200,000. Others are predicting a “supercycle,” where prices could soar even higher, possibly up to $1 million. But there are also negative predictions—famous investor Warren Buffett has called Bitcoin “stupid” and predicted its value could eventually go to zero. His views on Bitcoin are well known, and he believes it undermines central banks.
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