This is the event that all Bitcoin enthusiasts have been looking forward to for months. The halving of the main crypto occurred on April 20, 2024, marking a decisive turning point in the history of this revolutionary asset. This major quadrennial event therefore raises many questions about its potential impact on the price and future adoption of Bitcoin.
The Bitcoin Halving of 2024 is now behind us
The Bitcoin halving has finally happened and historically, it has been followed by strong price increases for the crypto queen. Indeed, the drastic reduction in new supply, coupled with generally sustained demand, creates an imbalance conducive to asset appreciation. With this in mind, many experts expect Bitcoin to benefit from a new bullish cycle in the coming months.
Some bold projections, like that of the Finder survey, even go so far as to suggest Bitcoin at $122,000 by the end of 2024. An ambitious goal, but one that could well materialize if the influx of institutional capital continues, notably thanks to the success of the recently launched Bitcoin ETFs.
4 years of dazzling progress for the crypto queen!
Beyond just speculation on prices, this bitcoin halving above all marks the culmination of 4 years of dazzling progress for BTC. Since the previous halving in 2020, the first crypto has indeed experienced unprecedented adoption, as evidenced by several key indicators.
First of all, daily trading volumes have literally exploded, from a peak of $30 billion in March 2020, to $42.27 billion this year! This increase of around 40% clearly illustrates the growing enthusiasm of investors for Bitcoin. In addition, the number of addresses holding bitcoin has continued to increase, regardless of the holding bracket considered. Small wallets, counting less than 0.01 BTC, even saw their numbers soar during this period, exceeding one million addresses.
With the halving of its new supply, Bitcoin has just opened a new chapter in its existence full of twists and turns. If the bullish predictions come true, there is no doubt that this pioneering crypto will further gain credibility and adoption among institutional and individual investors.
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