2 a loss of nearly 30 from the halving day price of 660. Bitcoin traded in a sideways manner for over two weeks following its second halving and fell to 465 on aug. The shock was so much that many weak hands not only panic sold but also exited crypto.
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Barely two month to the well expected halving on march 12th 2020 to be precise and in the heart of the covid 19 pandemic the bitcoin saw a sharp decline in one day going from over 7800 to less than 3700. Bitcoin expert nicknamed plan b suggested bitcoin price 50 000 after 2020 halving but 400 000 after 2024 halving and even three million after the 2028 halving. The next bitcoin block halving will occur in 2024 after 840 000 blocks will be mined and the reward per block will 3 125 btc.
Bitcoin halving explained the term halving refers to a programmed in event in bitcoin s code which reduces the reward per block mined by 50 every four years to control inflation. You can see here a chart of every single halving. Following the upcoming halving rewards issued will drop to 6 25 btc from the current 12 5 btc.
The term halving refers to a programmed in event in bitcoin s code which reduces the reward per block mined by 50 every four years to control inflation. Falling demand and rising supply is bearish for price. However as buyers have been front running the halving for months the demand will actually fall once it occurs.
Its supply will keep growing but maybe more slowly. Bitcoin will not become more scarce after the halving.
