BREAKING: Bitcoin Set To Go Parabolic After TONIGHT? What To Know

I am pleased to announce that Bitcoin just completed its fourth and latest halving event—let me explain.

Every four years the Bitcoin ‘block reward’ given to miners for providing the expensive computing power that makes the Bitcoin network possible is cut in half.

The new block subsidy awarded to miners will be 3.125 Bitcoin per block mined. This represents built-in scarcity for the decentralized digital ledger.

Because Bitcoin becomes harder to mine and more scarce as time goes on, it not only maintains its value but sees upward price momentum as a result.

Every time Bitcoin has experienced a halving event, the price has gone parabolic and set new all-time highs. However, this does not occur immediately as many would have you believe.

My analysis shows that in the previous cycles, it took Bitcoin’s price about 6 months from the date of the halving event to begin to see a reaction in price.

I must also caution that none of this is investment advice, always do your own research before making any investment! Here are the latest updates on the Bitcoin halving:

BREAKING: #Bitcoin halving officially complete.

— Watcher.Guru (@WatcherGuru) April 20, 2024

Bitcoin is now at block height 840,000

The halving has occurred!

The block subsidy is now 3.125 BTC

🌗🌗🌗🌗

Blockhash = 0000000000000000000320283a032748cef8227873ff4872689bf23f1cda83a5

— BitMEX Research (@BitMEXResearch) April 20, 2024

November 28, 2012: Bitcoin’s 1st halving
July 9, 2016: Bitcoin’s 2nd halving
May 11, 2020: Bitcoin’s 3rd halving
April 19, 2024: Bitcoin’s 4th halving

…2140: Bitcoin’s last halving.

Cheers to Bitcoin’s 4th halving.

— Bitwise (@BitwiseInvest) April 20, 2024

CNBC reports:

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.

Bitcoin is currently trading at $63,590, down from the all-time high of around $74,000. An analysis of Bitcoin’s price history shows that price takes months before responding to a halving event.

CoinDesk explained:

A quick glance at the mining fees paid by users to get transactions included in the block might reflect the intense competition by users to mint the new runes: $2.4 million in fees, versus $40,000 to $60,000 for a more typical block.

Several of the ensuing blocks also came with more than $1 million of fees.