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Bitcoin set to Be Halving on April 20th 2024

Halving BTC 🪙

According to some calculations, the next halving will occur on April 20, 2024. The mining fee will decrease from 6.25 BTC per block to 3.125 BTC per block.

From a letter from Pantera Capital:

"If demand for BTC remains constant and supply is halved, it will lead to higher prices. Previously, there has always been increased demand for BTC before halving due to expectations of higher prices."

Over the years, we have stressed that halving is a big deal. The price drop occurs 1 year 4 months before halving. On average, the market peaks 1 year 4 months after the halving.

That is, it will take 2 years 6 months to see the effect.

Bitcoin historically bottomed 477 days before the Halving. The post-halving rally averaged 480 days from the date of the halving to the peak of the next bull cycle.

If history repeats itself, the price of BTC will fall until December 30, 2022. Then we will see a rally in early 2024 and then a strong rally after the halving date.

The chart shows what could happen if Bitcoin repeats the performance of previous halvings.

This post is based on this twitter thread.

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