Is it true that bitcoin’s price goes up around a halving event?
Historically, bitcoin halvings have seemed to catalyze crypto bull markets.
Given there have only been three bitcoin halvings, it is important to note there is a small sample size to go by. Still, Berenberg Capital Markets analysts noted in a 2023 report that bitcoin has seen post-halving price rallies that have lasted between one and two years.
Bitcoin jumped from $12 on Nov. 28, 2012 to a price nearly 100 times that — $1,164 — 367 days later.
It took 524 days after the 2016 halving to rise from about $650 to a then-record $19,712. Bitcoin hit its current all-time high of more than $69,000 in November 2021, 549 days after the 2020 bitcoin halving.
As mentioned, BTC supply is capped at 21 million bitcoins. And the slowing down of new issuance can create a “supply shock” if in fact demand for the asset is growing — a potential bullish scenario for bitcoin.
