Minus 6 hours. This is the time that, according to the website mempool.space, remains until the fourth halving in the history of Bitcoin (BTC) occurs. Based on this estimate, the halving should take place around 10:30 pm Brasília time.
This year’s halving will cut the issuance of new BTC from 6.25 BTC per block to 3.125 BTC. This means that the daily inflow of new BTC will drop from 900 to 450 per day, or about 1,350 per month. And with demand on the rise especially because of ETFs, the market expects a large increase in the price of the cryptocurrency.
In fact, the last day of the current halving cycle saw BTC rise by 5%, which made its price open the day at US$64,000. And many analysts expect the cryptocurrency to reach US$100,000 in 2024.
Meanwhile, a memecoin from the Solana network is also close to ending its first pre-sale phase, which should take place on April 20th. This is Dogeverse, which has experienced enormous success and record funding, showing that the market still has many surprises for the coming days.
Halving cycles and what to expect from Bitcoin
The importance of halving is due to both its cultural and market impacts. As it occurs every 210,000 blocks (or about four years), the event marks the beginning of BTC bull cycles. And contrary to the “bubble” concept that many use, at the end of each cycle BTC usually renews its highs and is worth more and more.
For example, the first halving in history took place on November 28, 2012, when the emission cut was from 50 BTC to 25 BTC. At the time, the price of Bitcoin was around US$12 before the cut, but it went on to appreciate and reach records of more than US$1,000. An increase of more than 10,000%.
The second halving took place on July 9, 2016 and cut the reward from 25 BTC to 12 BTC per block. Before the halving, the price of Bitcoin was around US$650, but it fell below US$300 in 2015 after a strong downward cycle. Then, the cryptocurrency began a historic rally that saw it reach US$20,000. In this case, the increase was more than 60 times.
The third Bitcoin halving took place on May 11, 2020 and cut issuance from 12 BTC to the current 6.25 BTC. And it couldn’t have happened at a worse time: in the middle of a global crisis caused by a pandemic. Before the halving, the price of Bitcoin was fluctuating around US$8,000 to US$10,000, but it dropped below US$3,000.
Even so, the cryptocurrency showed its resilience and surpassed its all-time high, making a new top at approximately US$68,000. An appreciation of almost 23 times.
What to expect?
It is true that cycles do not repeat themselves, but until now the trend has always been upward. In the current cycle, BTC even broke its all-time high before the halving, something unprecedented in history. Its minimum reached approximately US$15,000 during 2022.
This means that if BTC repeats the pattern of this last cycle, its price could reach a maximum of US$300,000. But several analysts expect the cryptocurrency to at least reach the US$100,000 barrier by the end of this year.
On the other hand, Dogeverse is one of the memecoins that can benefit from the halving cycle, which tends to bring hot narratives each time. In 2020 it was decentralized finance (DeFi), and most analysts are unanimous in saying that the trends of this cycle will be memecoins and token pre-sales.
In this sense, Dogeverse raised record amounts and currently exceeds the US$7.7 million raised in its first round, which will end one day after the halving. And with the increase in market euphoria, the tendency is for the following rounds to be sold out just as quickly.
Therefore, the next 21 hours could make a difference if you want to bet on BTC and also secure a memecoin with excellent fundamentals and which is still very accessible in terms of price. Access the Dogeverse pre-sale website now and secure your tokens. And of course, happy halving everyone!
Source: https://www.criptofacil.com/halving-do-bitcoin-proximo-e-nova-memecoin-na-solana-o-que-esperar-nos-proximos-9-dias/
