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What Does the Bitcoin Price during the Next 24 Hours?

What is Bitcoin halving and how does it affect the BTC price? ( A Thread )

After every 210,000 blocks mined, or roughly every four years, the block reward given to Bitcoin miners for processing transactions is cut in half. This event is referred to as halving because it cuts in half the rate at which new bitcoins are released into circulation. (1/n)

When Did the Bitcoin Halvings Happen? ( 2/n)

What Changes With Bitcoin Halving?

The reward is halved → half the inflation → lower available supply → higher demand → higher price → miners' incentive still remains, regardless of smaller rewards, as the value of Bitcoin is increased in the process (3/n)

Effects of Halving on Bitcoin Price

Because halving the block reward effectively doubles the cost to miners, who are essentially the producers of bitcoins, it should have a positive impact on price because producers will need to adjust their selling price to their costs. (4/n)

What Happens When There Are No More Bitcoins Left?

Around the year 2140, the last of the 21 million bitcoins ever to be mined will have been mined. At this point, the halving schedule will cease because there will be no more new bitcoins to be found (5/n)

Miners, however, will still be incentivized to continue validating and confirming new transactions on the blockchain because the value of transaction fees paid to miners is expected to rise into the future (6/n)

What would be the Bitcoin price during the next halving in 2024? Comment below and follow for more updates.

This post is based on this twitter thread.


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