It is known that bull markets in Bitcoin progress into four-year cycles and these four-year cycles begin with the BTC halving.
After the halving in 2020, there was a serious bull market in 2021 and BTC rose to $ 69,000.
Having emerged from a deep bear market, cryptocurrencies are now focused on the new halving.
According to halving counters, there is less than a year until Bitcoin's next halving.
What is halving?
The Bitcoin code states that block rewards will be halved every 210,000 blocks. Bitcoin halving can be briefly defined as the periodic reduction of the rewards given to miners per block. Halving is one of the main features of Bitcoin and it is very effective on the price.
210,000 with 0 blocks. Between blocks, miners were rewarded with 50 BTC per block. 210,000 on 28/11/2012. Upon reaching the block, this reward is 25 BTC, 420,000 on 09/07/2016. bounty on block 12.5 BTC, 630,000 on 11/05/2020. It dropped to 6.25 BTC on the block.
Accordingly, the next halving to take place in 2024 is 840,000. block and the BTC block reward will drop to 3,125 BTC.
Effect of Halving on Bitcoin Price!
The chart below shows the change in Bitcoin price after the 1st, 2nd and 3rd halvings. According to the chart, there were significant increases in BTC price after the halving.
If history repeats itself, the real rally in BTC will start after March-April 2024.
*Not investment advice.
