The reports indicate that the fourth Bitcoin halving dates will happen sooner than 2024, i.e., in December 2023. The following image from NiceHash shows the BTC halving countdown from today, Sep 13, 2022.
Aiming to achieve a deflationary process, Bitcoin holds halving events almost once every four years, as the number of BTCs will decrease over time. Whenever 210,000 blocks are mined, Bitcoin halves its block reward, and since it takes 10 minutes for each block to be solved, it means the halving event happens in about four years. If you still feel unsure about what Bitcoin Halving is, check out this source and learn it once and for all. But why do Bitcoin halving dates change? Because of a significant jump in the mining hashrate.
Bitcoin halving dates are important, first because Bitcoin is the most important cryptocurrency, and every update about it will somehow affect the market. Second, data from the previous BTC halving indicate that halvings result in significant price increases. Take the BTC halving in 2020 as an example. Before 2020’s Bitcoin halving, each BTC was traded at $8,500, but in a short time after the halving, it surpassed $27,000. The following image is an analytical tweet from el_crypto_prof explaining there will be better days ahead for the crypto market. However, this is not a buy or sell signal, as many factors must be evaluated.
Although the previous data indicate that Bitcoin halving dates will usually be followed by a surge in prices, some experts do not agree. Opposing crypto experts claim to have found a pattern showing that in most cases, the increase recorded in the Bitcoin Binary CDD metric would be followed by a market crash. And currently, this metric is registering rises in prices!
Another point indicating a bearish signal is Bitcoin’s total exchange outflow, which has experienced dramatic decreases in recent weeks.
There are positive and negative views towards the Bitcoin halving dates closing in. It’s no secret that changes in Bitcoin will affect the crypto market, but make sure you evaluate all the options and affecting factors before making any moves in the crypto market. In the meantime, you need to stay updated about the latest trends in the crypto market. For example, these days, Ethereum Merge is among the top stories. We’ll cover all the must-knows about the crypto world. Follow us on social media and check out the daily blog at Cryptologi.st.
Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation, or needs. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation, and legal advice.
© 2022 - Created by Cryptologi.st