Is bitcoin halving over?
The most recent Bitcoin halving took place on 20 April 2024. This event occurs approximately every four years, or more precisely, every 210,000 blocks. The next halving event is due to occur in another four years, in 2028.
Did the Bitcoin halving just happen? Yes, the most recent Bitcoin halving occurred on April 20, 2024. This event occurs approximately every four years, with previous halvings occurring in 2012, 2016, and 2020. The next halving is scheduled to happen in 2028.
The last halving should occur in 2140. At that point, there will be 21 million BTC in circulation and no more coins will be created. From there, miners will just be paid with transaction fees.
When Is the Next Bitcoin Halving? The fourth Bitcoin halving was completed on April 2024. It is difficult to predict the exact date of the next halving as it depends on the block height. Since halving happens every 210,000 blocks, the next Bitcoin halving is expected to occur in 2028.
These peaks are often reached within a year after a halving, riding the wave of reduced supply and heightened demand, before the natural market correction takes hold due to profit-taking and the cyclical nature of investor sentiment.
What could give Bitcoin a boost in 2024? More than half of the experts Finder surveyed expected the price to increase after a so-called "BTC halving event" in April 2024. A halving event refers to a period every few years when the reward for mining Bitcoin transactions is cut in half.
| Year | Minimum Price | Maximum Price |
|---|---|---|
| 2025 | $115,285.47 | $133,872.61 |
| 2026 | $165,756.42 | $200,472.95 |
| 2027 | $240,935.90 | $288,284.17 |
| 2028 | $359,657.03 | $422,196.78 |
Halving reduces the supply of new bitcoins, which should in theory increase the price. It is an economic axiom that if demand for an asset remains stable while its supply decreases, its price should go up.
Who Owns the Most Bitcoins? Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is believed to own the most bitcoins, with estimates suggesting over 1 million BTC mined in the early days of the network.
After the 2012, 2016 and 2020 halvings, the bitcoin price ran up about 93x, 30x and 8x, respectively, from its halving day price to its cycle top.
Will bitcoin halving affect other coins?
Altcoins (alternative coins), essentially any cryptocurrency other than Bitcoin, are set to receive a knock-on effect from the halving. The interconnectedness of Bitcoin and altcoins goes well beyond price correlation.
Bernstein, a leading brokerage firm, has raised its Bitcoin price prediction to $90,000 by the end of the year following the upcoming Bitcoin halving event, reflecting a bullish sentiment based on strong inflows into cryptocurrency ETFs and high mining revenue.
In three previous halving cycles (in 2012, 2016, and 2020), it has skyrocketed to new all-time highs. The classic pattern is for Bitcoin to climb in value ahead of the halving, and then really take off after it.
In each cycle, Bitcoin consolidates for a few weeks before starting to climb about two months after the Halving event. From there, Bitcoin never looked back in either cycle — in 2021 or 2017. Prior to the Second Bitcoin Halving in July 2015, Bitcoin's value dipped by 18%.
Markus Thielen, founder of 10x Research, said Thursday in an interview with CoinDesk TV that bitcoin's halving "is not a bullish event" and warned of market weakness for the next few months, with potentially a deeper correction in the cards.
A $100 investment in Bitcoin could purchase 0.00607 BTC today based on a price of $16,466.14 at the time of writing. If Bitcoin hits the $1 million price target by Wood in 2030, the $100 investment would turn into $6,070. This represents a gain of 5,970% from now until 2030.
With the launch of potentially more Bitcoin-related financial services and the global adoption spark of Bitcoin, BTC prices will maintain a bullish trend in 2025. The cryptocurrency is expected to create a high of $140,449 with a low of $61,357.
By 2040, Bitcoin could surpass $1 million and reach a high point of $1.16 million, which would be a +2,275% increase compared to today's prices.
Fidelity Predicts: $1B per 1 BTC by 2038 — 2040
Jurrien Timmer, the Director of Global Macro at Fidelity Investments, thinks the value of a single Bitcoin could reach $1 billion by the year 2038 — very close to our Bitcoin price prediction 2040 target date. Timmer's demand model is rooted in Metcalfe's Law.
How much would 1 Bitcoin be worth in 5 years?
We predict that Bitcoin will hold an average price of $60,000 in 2024, thanks to the Halving event, and settle more in 2025 with an average of $65,000. In 2026, we see Bitcoin trading as high as $90,000 by the end of the year. By 2030, we predict that Bitcoin could reach a high of $160,000.
| Year | Minimum Price | Maximum Price |
|---|---|---|
| 2030 | $36,796.32 | $43,432.66 |
| 2031 | $54,306.57 | $64,564.54 |
| 2032 | $78,895.11 | $94,084.59 |
| 2033 | $111,247.87 | $137,752.22 |
What Happens When Bitcoin Halves? When Bitcoin undergoes a halving, the number of new Bitcoins that are made gets cut in half. Said differently, there's a 50% reduction in the reward miners receive for validating transactions and adding them to the blockchain.
Synopsis. Around April 20, the halving will cut the amount of Bitcoin that "miners" can earn each day for validating transactions to 450 from 900 now. Based on Bitcoin's current price, it could spell revenue losses of around $10 billion a year for the industry as a whole.
The Bitcoin halving will likely positively affect Ethereum and the broader crypto market, according to multiple industry insiders.
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