As the crypto community eagerly awaits the fourth Bitcoin halving, set to occur at block height 840,000, the exact date remains uncertain due to the inherent variability and probabilistic nature of mining blocks.
Scheduled to slash the rewards received by Bitcoin miners in half, the forthcoming halving has sparked estimations regarding its potential occurrence. According to Glassnode’s analysis, April 23, 2024, is a plausible date, though variations are expected.
Offering an alternative perspective, OKLINK points to April 22, 2024, as the anticipated date for the Bitcoin halving, counting down approximately 80 days. With 11,603 blocks remaining until the event, mining rewards are poised to decrease from 6.25 BTC to 3.125 BTC.
Historically, significant bullish trends have followed Bitcoin halving events, evident in 2012, 2016, and 2020. This has heightened expectations for the upcoming halving.
Crypto analyst Ali emphasizes four potential scenarios to consider as the Bitcoin halving approaches. Firstly, the possibility of post-halving corrections, citing instances where Bitcoin experienced negative reactions, with corrections of 30% and 7% observed after the 2016 and 2020 halvings, respectively.
Secondly, the anticipation of significant post-halving rallies, drawing parallels to historical surges of 11,000%, 2,850%, and 700% following the 2012, 2016, and 2020 halvings. In this scenario, a positive reaction to the halving could trigger a bull run.
Ali also notes the pattern of bull market durations, highlighting that the bull markets after each halving lasted for 365 days, 518 days, and 549 days, respectively.
Lastly, Ali speculates on the timing of the next market top, suggesting that if historical trends persist, the next Bitcoin market peak could be expected around April or October 2025.
As the crypto space brims with anticipation, analysts and enthusiasts alike are closely monitoring these patterns, preparing for potential market dynamics and the broader impact of the upcoming Bitcoin halving.
