Bitcoin halving, which the crypto community is eagerly awaiting, will take place on April 19, 2024. Enthusiasts continue to theorize and make predictions about the outcome of the Bitcoin halving. However, the real curiosity is how altcoins will react to the halving. Crypto expert Tari from the Altcoinbuzz team takes a look at this topic.
Bitcoin halving events and their impact on altcoins
Many crypto enthusiasts are filling their bags with altcoins, waiting for them to be pumped during the halving. However, someone else is already selling it. To know what to expect from this halving, we need to look at other halvings and their effects on altcoins. Halving occurs after every four years. Let’s look at the performance of Altcoin in 2016; Remember that the first halving was in 2012.
Bitcoin halving 2016
During Bitcoin’s halving in 2016, BTC gained 3,000% in value. After the halving in 2016, altcoins fell for six months. This was because they were not popular at the time. In 2017, Altcoins started gaining traction and led to tremendous growth. Altcoins experienced a price increase not during the halving but after it.
Bitcoin halving 2020
The altcoin market was worth $68 billion before the third halving on October 5, 2020. It rose to $1.7 trillion on October 11, 2021, a year after the halving. This represents a net 25x increase in 18 months. In 2022, altcoins experienced growth until the end of the year. Towards the end of 2022, crypto became more popular and many people jumped into it. Crypto adoption has led to an increase in the performance of altcoins. Altcoins lost some value but still bounced back after some time. Because people entered the crypto space.
Bitcoin halving 2024
And let’s look at the halving we are about to experience. As of April 11, 2024, the Altcoin market cap is $1.2 trillion and the halving event is just days away. Altcoins are ready to ride the wave. You need to know what awaits you. We are currently in the pre-halving phase, which, like in 2016 and 2020, caused an increase in altcoin market value due to Bitcoin halving. Since the outcome of the halving in altcoins took more than a year, it is possible that we will experience the same growth in the altcoin market once again.
Meanwhile, the crypto space is not predictable. Therefore, it is safe to keep your seat belts fastened. Look for buying opportunities and sell when they arise. Tread cautiously to prepare for the next bull cycle. Everything will start on April 19, 2024.
The opinions and predictions in the article belong to the expert and are definitely not investment advice. cryptokoin.com We strongly recommend that you do your own research before investing.
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