Next Bitcoin Halving is Looming: Can it Propel the Crypto to New Highs?

 | Nov 17, 2023 09:27AM ET

Bitcoin 4th Halving is on April 24th, 2024 - in about 5 months.

What should you make of it?

What is Bitcoin Halving?

Bitcoin halving is an event that happens approximately every four years where the reward for mining new Bitcoin transactions is cut in half. This means that miners receive 50% less Bitcoin for verifying transactions and adding them to the blockchain.

The halving is built into Bitcoin's code and it serves to slow down the rate at which new Bitcoins are created, making it more scarce over time. This is often compared to a reduction in supply, like cutting the production of new gold in half, which could affect the price if demand remains the same or increases.

Previous Halvings

As I said, we’re about 5 months before the next Halving.
So I checked what happened (with Bitcoin Price) 5 months before each of the previous 3 halvings, and looked at the price 12 months after the Halving date (D), together with the highest price we’ve seen after a halving (and before the next one).

The results look like this: