The largest cryptocurrency on the market, Bitcoin (BTC) has shown great upward momentum in the periods close to the halving and after the event, as highlighted in an analysis shared by cryptocurrency analyst, Trader Tardigrade, on November 30.
The analyst believes that Bitcoin will increase its price towards the $50,000 level as the halving approaches. After the event, the price of Bitcoin could be boosted to $250,000 or more, the analysis noted.
#Bitcoin Pre & Post Halving Bull Run 🔥
Are you ready?👊🏼 pic.twitter.com/oWGpQhDgT0— Trader Tardigrade (@TATrader_Alan) November 30, 2023
At the time of publication, the price of Bitcoin was quoted at US$37,670.18, down 0.5% in the last 24 hours. In the last 30 days, the largest cryptocurrency on the market has shown growth of 9.7%.
In this article, we will discuss:
Analyst suggests Bitcoin halving could trigger 400% bull run
The fourth Bitcoin (BTC) halving will take place next year, which could lead to a bull run for the largest cryptocurrency, as some market analysts believe.
Checkmatey, a network analyst at Glassnode, expressed his optimism about the Bitcoin halving. The expert recalled the great annual return of more than 400% after the halving in previous Bitcoin cycles.
“Bitcoin halving in 2024 is coming, estimated for April next year. Previous cycles also had an impressive 1-year return profile of over 400% post-event,” he wrote.
Halving Bitcoin 2024
There are around 18,715,050 million Bitcoins already in circulation as of May 2021. This leaves just 2,284,950 million to be released through mining rewards. The next Bitcoin halving will likely take place in 2024 and could have a dramatic impact on the cryptocurrency’s price.
Bitcoin halving is an event where the reward for mining new Bitcoin blocks is cut in half, resulting in miners receiving 50% fewer Bitcoins for verifying transactions. Bitcoin halving occurs every 210,000 blocks, which means approximately every 4 years.
2024 Bitcoin Halving
Bitcoin Halving Date 2024: March 30, 2024
Block number: 740,000
Block reward: 3,125 new BTC
Total new Bitcoins: 656,250 BTC
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/halving-pode-impulsionar-preco-do-bitcoin-para-a-us-250-000-sugere-analise/
