Analysis on Bitcoin's Halving

What is going to happen in 2024 in crypto? Many people are talking about the bull run in 2024, but what is behind this high? You all must have an idea why gold is so precious and what the reasons are behind it.

Image by Pete Linforth from Pixabay

Gold is a very rare commodity, so it is a bit difficult to find but very valuable. If you talk about 10 or 20 years ago, gold has gone up a lot compared to that. Well, it's very valuable. Bitcoins are even more valuable than cold money because they have a much smaller real supply.

Its supply is fixed, and its supply cannot be produced. That is, something that is so valuable and whose supply is so low in the market. So its prices go up. if We technically talk about what the halving is.

In 2009, new bitcoins were issued by the Bitcoin network every ten minutes. At that time, 50 bitcoins were mined every ten minutes. But how hard has it become now? In 2009, 50 bitcoins were minted every 10 minutes. After every four years, the Bitcoin price becomes half.

It's in Bitcoin's algorithm. who was giving 50 bitcoins has reduced to 25. 25 in 2016 to 12 and a half, and then most recently, 11 on May 11, 2020, it went from 12 and a half to 6.25 Bitcoin Age History. What will happen in 2024?

Image by PIRO from Pixabay

Will it decrease in 2024? When it starts going up, then all the holdings you have in the deadlock can be good. if we see a Bitcoin halving schedule. The Bitcoin halving is scheduled for the block hight date.

This is not dependent on the date; we are expecting it. The date is not fixed yet; it depends on the block. When 2 million blocks are sold, one bitcoin is halved, so in 2024, it is expected to be halved. The block salve must have been done.

Now if we see it on blockchain.com, we zoom in a little bit. The block salve that was done a little while ago was the block salve of 7 lakh 90428 number, and this is now 7 lakh 90440. The block number 90440 is being salvoed, which means that there are 49,000 blocks left to be mined in this block.

Let's talk about how a common man would understand this when it happened. When we see the charts of bitcoin and here is the recent halving that happened. In May 2020, our recent haling was done, so pay attention; it was also solved in May.

When did the price impact happen? After August, there was not a big difference, and in September, there were no big changes either. After that, August didn't see a big difference, and September didn't change too much, but from October, see if the rally has started.

Bitcoin has gone out of steam, so if you look a little bit at the up chart, you will find the same pattern as I said, because similar patterns have happened almost every time in the same way, so to speak.

This means that the 840,000 block of Bitcoin halving is complete, so don't wait for its next day of halving. It may take two or three months, then there will be changes in same action. Because this has been the pattern all along.

The content I shared with you guys is based on my education and knowlede. I wish you people will appreciate this post and reblog if you like it. Thanks for sticking till the end.

Posted Using InLeo Alpha