Bitcoin Halving in 2024: Will it be a breakthrough moment for cryptocurrencies?
Halving of Bitcoins – Why 2024 Could Be a Game-Changer?
Each previous Bitcoin reward reduction has been considered by the cryptocurrency community as “the biggest one yet”. However, it is possible that the halving scheduled for 2024 will be exceptionally significant due to several important factors.
Development of Events
The current Bitcoin halving system involves an automatic adjustment of supply. Currently, around 900 Bitcoins are awarded daily for mining a block, and after the next halving, this number will be reduced to 450. The 2024 halving could bring about a record price surge, due to a combination of increased cryptocurrency value associated with halving and rising demand from traditional Bitcoin ETF funds.
Price Growth Potential
It is forecasted that the 2024 halving will be the first in cryptocurrency history where Bitcoin demand will stem from both the commitment of the crypto community and traditional investors. Given the high interest in bitcoins from ETF funds, one can expect Bitcoin prices to remain high before the halving and a decrease in selling pressure afterward.
Halving Cycle and Energized Market
The third stage of halving, set for 2024, may bring price drops in anticipation of the selling pressure before the upcoming halving. However, there is a possibility that the influx of funds from Bitcoin ETFs could alter the typical course of subsequent halving stages, preventing price drops. The later stages of halving have the potential to bring new record Bitcoin prices.
Summary
The Bitcoin halving in 2024 is stirring intense emotions among the cryptocurrency community and investors. The reduction in supply and growing demand for the cryptocurrency linked to Bitcoin ETF funds create the potential for significant price growth. Will the third halving stage be groundbreaking and yield record results? We must wait to witness how the cryptocurrency market will respond to this major event.
