As Halving is Coming Bitcoin Price Could Hit New High
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Bitcoin without any doubtvthe most popular and demanding coin. Next year it is going to have halving that means Bitcoin mining will get more difficult. Before halving price of Bitcoin may rise.
Halving is the Big Event:
First let us know about the big event. It is not only big for Bitcoin but also for the rest cryptos. When Bitcoin rises other follow the same. The event of halving is very important for Bitcoin. Halving happens every after four years. After the halving mining rewards decreases, the current reward will be decrease to half to be more exact. When Btc mining becomes more difficult the price is likely to rise.
So definitely this is an important event for Bitcoin. And price action will follow the same. The expectations are also high among the crypto lovers since they are waiting for the next bull run.
What does history say:
The history of halving was always exciting. For example, when we remember what occurred during the Bitcoin halving of 2012 and 2016. We can clearly see that massive upward price action was observed. With halving there were less number of Bitcoin in the market to buy. When supply is low, prices will make high because people will try to get their share. To get the share in competition people have to pay more. The more you pay the earlier you get your share. And of course nobody will sell it at a low price.
This price will rise. As Bitcoin is struggling now price of all other coins has gone too. So it is very much necessary for the market to bounce with Bitcoin. Source
What can happen:
These are not my words. I learned from many articles by reading experts' opinions that a new pattern is forming. Normally Bitcoin price grows before 1 month of halving event. As we have halving coming next year so it is very likely to make a high by Bitcoin before halving in 2024. And 2024 is very near, we are in September now.
There are several reasons behind this Price rise. According to the experts price may rise because of:
There will be less amount of Bitcoin in the market.
As halving is closing many big company, institutions and investors are buying Bitcoin in bulk amount.
Many people are getting their share of Bitcoin before price rise.
People like Bitcoin for buying online products.
Big hype around the big event.
Conclusion:
No one can exactly say what will happen in 2024. But basing on previous event and experience experts are predicting Bitcoin to make a new all time high in 2024.
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Indeed, we are expecting a rise in btc value after it's halving
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