Bitcoin halving in 2024 may not spark bull run, analyst claims
The next Bitcoin halving is scheduled for early Q2 2024. This event will reduce miner rewards by 50%, from 6.25 BTC to 3.125 BTC, a supply shock that makes the coin scarcer. Even though historical price performance tends to support prices, one observer thinks that in the months after this event, Bitcoin prices will remain muted. As price action data shows, past halving s have significantly impacted the price of Bitcoin. A 9,100% surge followed the first halving in 2012. The second halving in 2016 pumped prices by 285% in the following months. In the third halving in 2020, Bitcoin prices rallied 550% in the following months, peaking at a record $69,000 in November 2021. You might also like: Bitcoin holds steady above $30,000 as selling pressure intensifies Despite this trend, the analyst on Reddit is casting doubts on the halving impact and thinks Bitcoin won’t rally as the market believes. In his assessment, he argues that the Bitcoin market is now more mature, b...