Topic: 2024 Bitcoin Halving - What are Your Expectations!!! - page 6. (Read 3754 times)

Yes. But sometimes things don't turn out the way we hoped for. There's the issue of Russia and the increasing number of new COVID-19 variants, greatly affecting the global economy. We can't expect Bitcoin to reach a new ATH in price, especially when the crypto market is moving in correlation with the stock market. People are mainly focused on rising food, gas, and energy prices. Those who have spare money to pour into Bitcoin, are usually whales and/or wealthy people. The rest are putting their money aside into things that matters most.

Unless the recession comes to an end, Bitcoin will have a hard time trying to break through $68k per coin. At least, we know BTC will experience a slight uptick in price shortly after the halving. It might not reach a new ATH in price, but at least it will be worth more than what it is right now. As long as you play your cards right, there should be nothing to worry about. Just my opinion

It would seem reasonable to expect a new ATH 6 months after 2024 bitcoin halving event to be about $100K USD.  It just seems if you look at the previous patterns that there is an explosion of price/new ATH within a year of halving event.

That's right. Let's be realistic. Let's not expect $1,000,000 for 1 BTC during the next ATH. It is very likely that the price will be even less than 2 times of the previous ATH, something around $120,000, which many people predict btw. And in several years after that, the next ATH will probably be only 1.5x, meaning that BTC will cost around $180k, the next ATH - 1.3x, and so on. I personally think that we are following this pattern.

I don't think the economy will be in a much worse state than it is right now. We're quite close to hitting rock bottom. How much worse can it get in just a few years? Even if it's in the exact same situation, Bitcoin after the halving will certainly be worth more than it's worth right now for the reasons you previously explained.

Therefore, I don't find any particular reason to sell my Bitcoin before the halving occurs, unless I'm in dire need of money. I'm patient enough to hold for as long as possible.

Everyone is waiting for $100k in the next cycle and this has been predicted by many. If we look at the history of the bitcoin halving, of course new ATH continues to be achieved and the price exceeds the price we predicted. as you said if BTC can reach $120k max. 2024 being the most awaited halving, new investors will certainly start to enter and enliven the bitcoin market. Many good wishes for the 2024 halving.

Whatever happens, you can rest assured Bitcoin won't be going anywhere soon. I think 2024 will make Bitcoin bigger and stronger than ever, as more miners join the Blockchain for profit. After all, there will be less Bitcoins generated per block. Price-wise, Bitcoin should be able to reach a new ATH shortly thereafter if the global economy fully recovers. Even if the economy worsens, Bitcoin will be much more valuable than what it is right now (although it won't reach a new ATH in price) because of the rules of supply and demand. Kudos to Satoshi for making the best money the world has ever seen. Who knows if someday Bitcoin beats Gold as a long-term store of value? Just my thoughts

~
1300: 20000 was 15x of previous ATH
20000 to 69k was 3.5x of previous ATH

So, yes, "only 2x" does seem to be keeping in the pattern of reducing multiples of ATH. I'd love for it to increase to break this pattern but I'd also love to win the lottery.

This is also something to take into account, and I've been expressing myself too. If the economy is in the current or worse state of recession, don't expect the halving to rapidly change the market. We are, however, supposing or at least hoping that things will have improved by then. In my opinion, the economy will be in a better state than the current one, but still won't be at pre-Covid-19 levels, which means that Bitcoin might not have skyrocketed by then, but one thing is almost certain, that Bitcoin will be worth a lot more than it is now.

Will it surpass the previous all-time-high? From my point of view, if it hasn't, it will be quite close to it.

Technically, Bitcoin's price should increase with every block reward halving. But if the global economy is in a recession, you cannot expect things to get better anytime soon. I don't think central banks will keep rising interest rates forever, especially when currencies aren't meant to be deflationary. This is only a temporary measure to help control inflation as a result of the COVID-19 pandemic and the Russia-Ukraine war. After this is over, we can expect Bitcoin to reach a new All-time-high in price.

If you're smart enough, you'd buy as much Bitcoin as you can while the market is bearish. By taking advantage of this opportunity, you will increase your chance of becoming a wealthy person within the not-so-distant future. Who knows what 2024 holds for Bitcoin and other cryptocurrencies on the market? Just my opinion

Everyone knows about the current ‍situation of Bitcoin. We cannot yet say that Bitcoin is in a good position. If the premonitions of an economic downturn are reversed, Bitcoin will take a turn for the worse. But there is no doubt that Bitcoin will be bullish again. Next year 2024 we may get the year of Bitcoin again.

                         


                                               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.


Source

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.......

Technically, Bitcoin's price should increase with every block reward halving. But if the global economy is in a recession, you cannot expect things to get better anytime soon. I don't think central banks will keep rising interest rates forever, especially when currencies aren't meant to be deflationary. This is only a temporary measure to help control inflation as a result of the COVID-19 pandemic and the Russia-Ukraine war. After this is over, we can expect Bitcoin to reach a new All-time-high in price.

If you're smart enough, you'd buy as much Bitcoin as you can while the market is bearish. By taking advantage of this opportunity, you will increase your chance of becoming a wealthy person within the not-so-distant future. Who knows what 2024 holds for Bitcoin and other cryptocurrencies on the market? Just my opinion

I think 100,000 for the next cycle, and going over that price is a reasonable and conservative bet. For the cycle after that, I am not sure, as it will depend, among other things, on what the maximum of the next cycle will be. If the maximum is 120,000, I don't think we will reach 200,000 in the next cycle. The price will probably be close enough without breaking it.

Bitcoin will certainly form a good position. Currently, based on the recent state of the country and the war situation in various countries such as Russia and Ukraine, Bitcoin may have such a position.Once the Russia and Ukraine belligerence ends, Bitcoin will be in a good position again.I think this Russia is dumping Bitcoin so much because of Ukraine But in 2024 there will definitely be a halving of Bitcoin. But I think bitcoin will surely reach 100k dollar any day.

It will be like other halving: because less Bitcoins are being generated, its value will increase.

However, I do not know if the value will increase as much as in the past since we will probably in a cycle of rising interest rates.

I think 100,000 for the next cycle, and going over that price is a reasonable and conservative bet. For the cycle after that, I am not sure, as it will depend, among other things, on what the maximum of the next cycle will be. If the maximum is 120,000, I don't think we will reach 200,000 in the next cycle. The price will probably be close enough without breaking it.