Is Bitcoin Halving 2024 a Game-Changer for Investors? Find Out What Experts Predict
Bitcoin halvings are a significant event in the world of cryptocurrencies. A halving occurs approximately every four years and has a direct impact on the issuance rate of new Bitcoins. Here’s how it works:
In the night between April 19 and April 20, the 840,000th block was added to the Bitcoin blockchain, marking the occurrence of the fourth Bitcoin halving. During the halving, the Bitcoin price temporarily reacted with a small decrease, dropping to $63,564 on April 20. At the time of writing, the price is up slightly to $66,301.
Before the 2024 Bitcoin halving, Bitcoin (BTC) experienced a rally. Since the beginning of the year alone, Bitcoin’s price surged by 52%, and over the past twelve months, it recorded an impressive 134% increase. The cryptocurrency reached a preliminary peak of its rally on March 13, 2024, setting a new record high at $73,605.
However, as Easter weekend approached, buying interest waned slightly. On April 1, the most valuable cryptocurrency was trading at around $69,500. Later in the week, the cryptocurrency rebounded and reached $72,572 on April 8, marking the highest level since mid-March.
On April 14, Bitcoin plummeted below $62,000 because the crypto markets reacted sharply to major geopolitical shifts. Within just 30 minutes of the official confirmation of the Iran attacks on Israel, Bitcoin lost over 10% of its value. This decline also meant that Bitcoin had shed more than 20% from its recent all-time high.
Ethereum (ETH), the second largest cryptocurrency, also fell by around 10%, dropping below the key $3,000 mark.
Over this weekend, not only cryptocurrencies but also stock markets reacted nervously to Iran’s attacks on Israel.
As stock and bond markets are closed on weekends, it
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