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  • Debashree Patra
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    Fun-loving and cheerful, a passionate blockchain and crypto writer who knows no boundaryโ€ฆconnect if you share the same passion. With 10+ years of writing experience, I am a Crypto Journalist by chance, exploring, and learning all the dynamics of the sci-fi action-filled crypto world. Currently, focusing on cryptocurrency news and price data. With a passion for research and challenging my capabilities, I am slowly getting into the crypto arena to bring new insights every day.

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    Bitcoin Halving in 12 Days! Here’s What to Expect On April 20th

    Story Highlights
    • Bitcoin's fourth Halving is coming on April 20, 2024. Historically, Halving events have been followed by significant price increases for Bitcoin.

    • This time, some analysts believe Bitcoin's price could reach $100,000 this year due to the Halving's impact on scarcity.

    • The Halving strengthens Bitcoin's long-term value as a scarce and deflationary asset.

    With only twelve days remaining until Bitcoinโ€™s fourth Halving, the crypto world is abuzz. Set for April 20, 2024, this upcoming event has the potential to reshape Bitcoin’s future. Historically, Halvings have triggered dramatic price surges, with some exceeding a staggering 8,000%.

    Will this Halving be different? Could Bitcoin finally crack the elusive $100,000 mark? Dive deeper to explore what experts predict.

    Bitcoin’s Halving Story: Looking at History

    Exploring Bitcoinโ€™s past halvings reveals a tale of remarkable price jumps, showcasing the profound impact of this event on the network. The first halving in November 2012 saw Bitcoin’s value skyrocket by a staggering 9,500% within a year, from $12 to $1,166.

    Similarly, the second halving in July 2016 sparked a bull run that drove Bitcoinโ€™s price to nearly $20,000, a remarkable 4,100% surge.

    Even amidst the chaos of the COVID-19 pandemic, the third Halving in May 2020 witnessed a significant uptick, with Bitcoin reaching an all-time high of $69,000 by November 2021, marking a substantial 700% increase from pre-halving levels.

    New Territory Ahead?

    As we approach the fourth halving, there’s a mix of anticipation and caution. Unlike previous times, Bitcoin has already surpassed its old peak of $69K. However, analysts are still eyeing the upcoming event closely, curious about its impact on Bitcoinโ€™s price.

    Adding to the intrigue, respected analyst PlanB predicts further increases, suggesting Bitcoin could hit $100,000 this year and soar beyond $200,000 in the future, based on his Stock-2-Flow (S2F) model.

    The Three Effects of Halving

    Bitcoinโ€™s fourth halving brings three main changes. Firstly, it decreases the daily production of new Bitcoin, making it more like gold and reducing inflation. Secondly, it speeds up Bitcoin’s scarcity, given its limited supply of 21 million coins, potentially driving up demand and price. Lastly, it encourages miners to use better equipment, strengthening the network’s security.

    What to Expect? 

    While past data paints a positive picture, itโ€™s important to remember the cryptocurrency marketโ€™s volatility. Predicting its future trajectory remains tricky, with some experts expecting rapid price increases and others a slower climb.

    Regardless of the immediate outcome, the 2024 Halving is a big moment in Bitcoinโ€™s story. It reinforces Bitcoin’s essence of scarcity and deflation, solidifying its position as a long-term investment asset.

    Also Read: Bitcoin Halving Hype: PlanB Predicts BTC Price at $100,000 by Year-End

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