Is The Bitcoin Halving Still A Bullish Play?


(MENAFN- ValueWalk) All eyes will be on the Bitcoin Halving on April 20 (approx.). Every four years, the Bitcoin rewards sent to miners for validating and securing transactions are halved.

The Bitcoin used for rewarding miners is freshly minted. This means new Bitcoins are produced (minted) to award the miners. From a historical point of view, Bitcoin enjoyed significant gains within the first 365 days after the halving.

BTC halving 2009 – 2028

As fewer new Bitcoins are minted, supply becomes limited. As a result, the price tends to kick higher. However, 2024 turned into a more volatile year than was initially expected.

Table of Contents Show
  • Iran's strike on Israel shook the crypto markets
  • Bitcoin's 'supply shock'
  • Bitcoin 'presales'
  • Hong Kong Bitcoin and Ethereum ETFs pending approval
  • Bitcoin technical projection for the halving
  • What can dent the Bitcoin rally?
  • Conclusion Iran's strike on Israel shook the crypto markets

    Iran's decision to launch an attack on Israel lead to extreme volatility across the crypto markets.

    According to the BBC , Iran launched over 300 drones, 30 cruise missiles, and 110 ballistic missiles.

    This is how Bitcoin reacted to the news before some recovery took place.

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