Will the 2024 bitcoin halving event cause a bullish market?

The analyst predicts that the 2024 halving event will cause the value of Bitcoin to rise above $32,000, setting the stage for a bullish market in 2025 with a potential price of over $100,000. This is how you can potentially earn extra income every single month..

What is the halving of bitcoin?

In the most recent May 11, 2020 halving, the reward dropped from 12.5 to 6.25 BTC per block. In the 2024 halving, the reward will drop from 6.25 BTC per block to 3.125 BTC. What is the Significance of the Bitcoin Block Halving? The halving decreases the amount of new bitcoins generated per block.

When will bitcoin's price halve?

When averaging those decreases, we discover that on average, Bitcoin's price is about 55% less than the previous all-time high when the halving occurs. The next halving is set to take place about May 2024. Simple math can help us arrive at a possible price that Bitcoin will reach by then.

What will bitcoin's price be in May 2024?

A gain of this size from our speculative $30,000 price in May 2024 price would imply a new all-time high of almost $150,000. We could speculate on Bitcoin's price until the last Bitcoin is mined sometime after 2100.