$BTC HALVING alert ๐จ๐๏ธ
Will there be a 500% to 1000% this time around? ๐๐๐ฐ๐ค
Bitcoin's fourth mining reward halving is just two 2๏ธโฃ days away!!
Historically, the previous three halvings have been accompanied by BTC price appreciation after the halving, although the time it took to reach the all-time highs differs significantly. Caution should be taken against extrapolating the past cycles and the impact of halving, given the respective prevailing macro conditions
The bitcoin "halving" is almost upon us.
This technical event, written in bitcoin's code, happens every four years. In simple terms, it is when the rewards for bitcoin miners are cut in half. This reduces the pace at which new bitcoins enter the market.
Since there will ever only be 21 million bitcoins, the halving serves to create more scarcity.
In the past, halving has preceded massive rises in bitcoin prices to new all-time highs. But this time, things are different.
Bitcoin has already hit a new record high, before the halving has taken place. That's because the approval of spot bitcoin exchange-trade funds has excited the market and brought in lots of demand for the cryptocurrency.
What does this mean? Donโt compare past results and except those same results will be the same this year ๐พ๐พ๐๐ผ๐๐ผ๐๐ผ
