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bitcoin halving

9 Really Good Reads On the 2024 Bitcoin Halving

By Allen Taylor | Cryptocracy | 24 Apr 2024


The Bitcoin Network experienced its fourth halving event last Friday. For those following the event, there are some essential reads post-halving. Here are 9 reads about the halving event that everyone interested in bitcoin should read:

bitcoin halving

Industry experts pretty much agree that a post-halving bull run is not in the cards for bitcoin this time around. They're also in agreement that two things have impacted things this time around: Bitcoin ETFs, which allow investors to expose themselves to bitcoin without fiddling with the messy business of wallets and cryptographic security, and the advent of layer-2 solutions like Runes, which launched just days prior to the halving.

My take: I concur that these two developments make the bitcoin halving different this time around. What's unclear, however, is whether BTC will see a post-halving surge. Maybe it will, maybe it won't. The fact that it hit an all-time high (ATH) prior to the halving is itself a strong signal that it may not go as high as some anticipate.

BTC currently sits at just over $66K. It's been fairly stagnant since the halving but has gone up some. On April 17, BTC was at $62.76K. While it has risen as high as $67K since the halving, it still hasn't matched its previous ATH. That doesn't mean it won't. It could be months before we see another surge that takes bitcoin new new ATHs. Much of that depends on how the whales move between now and then. Will they cash out and take profits or will they buy more BTC and drive up the price? Maybe they'll do both.

bitcoin

At any rate, if BTC doesn't move beyond its current ATH and doesn't fall below its current support, it should hover comfortably between $60K and $72K for the rest of the year. That could be a sign of its strengthening. In that case, we may see less volatility in the long-term even if we see a lot of volatility during short-term cycles. I still see bitcoin rising in the long-term and that means it will be good for dollar-cost averaging. Eventually, bitcoin could become a peer-to-peer currency as it was intended to be.

Of course, all of this is speculation. No one truly knows what the future will bring. What we can know for sure is that this bitcoin halving is different than past halvings. That means an uncertain future for the network, but I am still an optimist.

 

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This post was first published by Author Allen Taylor at Paragraph

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Allen Taylor
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Writer, editor, publisher. Content strategist for fintech, blockchain, and crypto firms.


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