Topic: 2024 Bitcoin Halving - What are Your Expectations!!! (Read 3754 times)

It is not a question of "IF" buy When history repeats itself. From the history of previous ath, btc has always create new records hence the same will happen come 2024.
According to some information online, the accumulation of btc keeps increasing, even the number of non custodian wallet holding btc keeps raising, which means the btc supporters are strongly accumulating which can only result to one result - Mega ATH.

~If history repeats itself, then it's likely BTC will go to the moon by 2024 (when the next block reward halving will occur).

my hope is that it will exceed the previous years in 2017/2021, and even in the coming 2024 bitcoin will be even more valuable throughout the world..

Well, the 2024 halving combined with the fact that central banks will be allowed to have up to 2% of Bitcoin in their reserves from 2025 paints a pretty good picture to the next couple of years of Bitcoin adoption.

I think the price of one Bitcoin will pass the $100k mark in the next 2 years based on those two events alone.

~snip~
I can't imagine how expensive Bitcoin will become after the block reward is reduced to less than 1 BTC. Market prices would probably be in the "millions" by then. People usually become excited after each halving event, since they're indicators of a substantial increase in market prices. If history repeats itself, then it's likely BTC will go to the moon by 2024 (when the next block reward halving will occur).

Of course, the global economy would need to recover before we can talk about BTC reaching a new ATH in price. Central banks won't keep raising interest rates forever, so I'm pretty confident things will look bright next year. Who knows if BTC manages to beat Fiat for good? Just my thoughts

      https://i.imgur.com/5a3M8DN.png                    


                                               What is the Bitcoin Halving (Halvening)?
New bitcoins are issued by the Bitcoin network every 10 minutes. For the first four years of Bitcoin's existence, the number of new bitcoins issued every 10 minutes was 50. Every four years, this number is cut in half.

In 2012, the number of new bitcoins issued every 10 minutes dropped from 50 bitcoins to 25. In 2016, it dropped from 25 to 12.5. In the most recent May 11, 2020 halving, the reward dropped from 12.5 to 6.25 BTC per block.

In the upcoming 2024 halving, the reward will drop from 6.25 BTC per block to 3.125 BTC.

                                               Bitcoin Halving Dates History
      
         2012 Halving
The 2012 block halving was the first halving and happened on November 28th, 2012. The halving block was mined by SlushPool by someone using a Radeon HD 5800 miner.

New BTC Per Block Before: 50 BTC per block
New BTC Per Block After: 25 BTC per block
Price on Halving Day: $12.35
Price 150 Days Later: $127.00

       2016 Halving
The second halving occurred on July 9th, 2016.

New BTC Per Block Before: 25 BTC per block
New BTC Per Block After: 12.5 BTC per block
Price on Halving Day: $650.63
Price 150 Days Later: $758.81

     2020 Halving
The third halving occurred on May 11, 2020.

New BTC Per Block Before: 12.5 BTC per block
New BTC Per Block After: 6.25 BTC per block
Price on Halving Day: $8821.42
Price 150 Days Later: $10,943.00

     Current Bitcoin Block Subsidy
The current Bitcoin block subsidy is 6.25 bitcoins per block. When block 840,000 is hit in 2024, the subsidy will drop to 3.125 bitcoins (BTC) per block.


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The next bitcoin halving is less than two years, to me, this period will be different because, for the first time, I really am paying attention to important aspects of btc and keeping myself updated as well.
I can't really say much about previous halving other than just reading about them (probably because I was not holding btc) but now is different because I have been accumulating in every little way I can.

So dear colleagues, What are your expectations? other than price increase  
*Do you expect to see widespread adoption and acceptance?
*More involvement from big companies?
*More popular?
*Increase number of users?
*Any other.......

Famous people or mainstream media saying things are basically noise in the long term.

The halvings are kinda in the middle term, they affect the price and how confident people feel about Bitcoin. The more of them, the better for Bitcoin.

We will see in a few years the big change that will be having the rewards as less than 1 Bitcoin, that will be interesting to see.

How can you confidentiality associate Elon Musk to the reason why btc experience any significant growth? Am a bit shocked at your response.
Btc has done consecutive ath before there was ever Elon Musk and his mediocre tweets. And believe it or not, btc will record yet again another ath in the coming bull circle without him.

Some posts above Bitstar_coin showed, that during last 3 halvings Bitcoin price did not show any major changes. At previous halving, a lot of people expected Bitcoin price to skyrocket, but the significant price change started after Elon Musk tweets. This time the world economy is in tricky situation, and Elon Musk shows low interests in crypto, so instead of huge price changes, I would expect no huge price changes at all.

And btw, you say "new ATH after each halving" - there was never a new ATH after halving. Bitcoin had ATH 1-2 years after halving.

The Bitcoin halving period could be a crazy time for Bitcoin and cryptocurrencies. Expect the price to go up and get a new ATH after each halving, so expect to hit a new all-time high after the next halving. Of course Bitcoin users and popularity will also increase.

Wait, but wasnt the moment, when he added "Bitcoin" in his Twitter accounts bio, what has triggered first wave of market growth? Followed by Bitcoin acceptance by Tesla. Wasnt it November-December 2021, when the price grew to $20k, and later set new ATH with $40k ? I always thought that he was the one that triggered growth, that later turned into bull market in 2022. Not saying that Elon is the savior, but he was definitely the one who started price movement. And not halving, that Riodarvg mentioned.

Famous people or mainstream media saying things are basically noise in the long term.

The halvings are kinda in the middle term, they affect the price and how confident people feel about Bitcoin. The more of them, the better for Bitcoin.

We will see in a few years the big change that will be having the rewards as less than 1 Bitcoin, that will be interesting to see.

~snip~
That effect of Elon Musk got worn out over time. In the beginning when he tweeted about Bitcoin, I think it was to be expected that the market will move or that at least some big players might have used the momentum of that tweet in order to pump the market and get excitement going on a global scale. When the richest man in the world with such a massive following out of a sudden starts to make moves in an industry, I think it is normal that there is going to be some serious momentum. It won't happen again though solely based on his tweets. Tesla accepting Bitcoin was also quite the step, but only in that specific situation.

Regarding the halving I believe that that will be priced in once again way earlier than the actual halving is going to happen.

Elon just entered the market in 2021, how can it be said that Elon created the growth of bitcoin? He is not a bitcoin creator or god to be able to do that, if he can tweet to make bitcoin hit new ATH, then I believe he has done it many times for his purpose of manipulating the market for profit. The fact that bitcoin always generates ATH after each halving means that bitcoin will not spike and reach ATH immediately, but it takes time, maybe half a year or a year later. Elon is not the savior of the market, he is just an investor like us, trying to follow the market to make a profit.

Elon just entered the market in 2021, how can it be said that Elon created the growth of bitcoin? He is not a bitcoin creator or god to be able to do that, if he can tweet to make bitcoin hit new ATH, then I believe he has done it many times for his purpose of manipulating the market for profit. The fact that bitcoin always generates ATH after each halving means that bitcoin will not spike and reach ATH immediately, but it takes time, maybe half a year or a year later. Elon is not the savior of the market, he is just an investor like us, trying to follow the market to make a profit.