What Happens After the 2024 Bitcoin Halving?

Imagine having a crystal ball that could predict the future of Bitcoin prices! While we don't have magical orbs, we do have something equally fascinating - historical patterns and expert predictions. Let's explore what the post-2024 Bitcoin halving landscape might look like.

Bitcoin

The Bitcoin Halving Story So Far

Before we delve into predictions, let's take a quick trip down memory lane to see how Bitcoin behaved before and after its previous halvings.

• First Halving (Nov 2012): Bitcoin was at $10.70 before, $12.20 at the halving, and rose to $13.42 (+9.8%) one month after. Three months later, it stood at $30.90 (+153%).

• Second Halving (Jul 2016): Prices were $577.2 before, $633.4 at the halving, and dipped slightly to $597.5 (-5.6%) one month after. Three months later, it was at $619.8 (-2.2%).

• Third Halving (May 2020): Bitcoin was at $7,060 before, $8,730 at the halving, and surged to $9,850 (+12.8%) one month later. Three months down the line, it soared to $11,860 (+35.8%).

Here's a takeaway: One month before each halving, Bitcoin's price was lower than at the actual halving. Optimism usually sweeps the BTC market as the event nears since halvings reduce the issuance of new coins. So, if you fancy a bit of speculation, acquiring some extra BTC before the halving might be a good call.

As for post-halving trends, we've seen two instances of price increases and one instance of a decrease. After the most recent halving, BTC's price shot up by a whopping 35.8% in three months.

From a longer perspective, Bitcoin has consistently hit new all-time highs in each 4-year period between halvings.

Predicting the 2024 Bitcoin Halving

Fast forward to the next chapter - the 2024 Bitcoin halving, expected in April. What should we expect?

• April 1, 2024: Predictions suggest Bitcoin will trade at around $49,300.

• 1-month post-halving: The forecast predicts a $52,000 price, marking a 5.4% increase from the halving price. Soon after, it's expected to rally to a new all-time high, approximately $84,100.

• 3 months post-halving: Bitcoin's predicted price is about $45,700, indicating a -7.3% decrease from the halving.

Bitcoin's Journey Beyond 2024

According to prediction models), BTC is set to gradually rise in value until the 2024 halving. There's even a surge anticipated in the month leading up to it, possibly reaching the previous all-time high before settling around $49,300.

However, remember that Bitcoin's path can be as unpredictable as a rollercoaster. Long-term forecasts are notoriously challenging to nail down, and we've only had three Bitcoin halvings to study - a relatively small sample size.

Final words

Expect a modest rally in the month before the 2024 halving, but don't set your watch to it. The cryptocurrency market is full of surprises.