JUST IN: Bitcoin Halving Complete—What You Need To Know

By Vince • April 19, 2024 11:01 pm • Comments

Bitcoin’s halving is now complete! The crypto community has been intensely watching the highly-anticipated event for months now, yet the price hasn’t moved. What’s going on?

Despite all the hype, Bitcoin’s price does not immediately react after the halving.

An analysis of previous Bitcoin halving cycles shows that the price begins reacting roughly six months after the halving event occurs.

Trending: Ripple Labs Forges NEW Partnership!

Here are all the details of the 2024 Bitcoin halving, and always remember, this is not investment advice; do your own research before making any investment!

CNBC explained:

After the 2012, 2016, and 2020 halvings, the bitcoin price ran up about 93x, 30x, and 8x, respectively, from its halving day price to its cycle top.

Bitcoin is currently trading around $63,590, down from the all-time high of $74,000 reached earlier this year in the wake of the Bitcoin ETF approvals.

CoinDesk reports:

The winning mining pool for that block was ViaBTC, entitling it to the bitcoin rewards at the new, just-lowered rate of 3.125 BTC per block, worth about $200,000 at the current price.

But crypto miners had been competing actively for the block since it contains the first “sat” – the smallest denomination of bitcoin – following the halving.

These “epic sats” that follow halvings are seen as collector’s items.

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.

 

Search ProCoinNews