Investing.com | Editor Venkatesh Jartarkar
Published Nov 09, 2023 12:55PM ET
The next Bitcoin halving, a significant event that typically induces considerable price volatility, is scheduled for April 2024. The halving, which happens every four years or after 210,000 blocks are mined, will cut the creation of new Bitcoins per block by half, thereby reducing the rate at which new Bitcoin enters the market.
Historically, such halvings have led to substantial price fluctuations both before and after the event. Previous occurrences in 2012, 2016, and 2020 resulted in a surge in Bitcoin’s price due to a supply-demand imbalance caused by decreased supply and increased demand. However, this pattern does not necessarily predict future price movements.
Bitcoin’s price is influenced by a multitude of factors such as market sentiment, adoption rates, regulatory changes, macroeconomic conditions, and investor behavior. These elements play an essential role in determining the cryptocurrency’s value and can significantly impact its trajectory following the halving event.
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Written By: Investing.com
