The Bitcoin halving event has been scheduled to take place in the next 15 days. Based on historical data, it could trigger a bull run that would last months, setting new price peaks.Kaiko explained that the short-term price impact of Bitcoin halving events has been mixed in the past, but historical data has clarified that the value of BTC tends to increase within a year post halving, one of the major reasons it has been deemed a bullish event.
The upcoming halving will reduce the rewards earned by miners for validating transactions by half. The previous halving slashed the rewards to 6.25 BTC; the next one will reduce them further to 3.125 BTC. Following the previous halvings in November 2012, July 2016, and May 2020, BTC recorded returns of 9,000%, 4,000%, and 700%, respectively, within 12 months after the events. It remains uncertain how far BTC will surge, but analysts haveOn-chain analysis shows BTC has already entered the pre-halving danger zone, where it experiences significant price slumps as it prepares for takeoff post-halving.
Hence, bitcoin’s rise may exceed analysts’ expectations and predictions because the asset can be accessed by a wide range of investors, including institutions.Bitcoin Miners' Reserves Plummet to April 2021 Lows Amid Profit-Taking and BTC Price DeclineThe Most Popular Airdrops to Watch For in 2024Sign-up FREE to receive our extended weekly market update and coin analysis report
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