11th Anniversary of Bitcoin’s First Halving: From $12 to $37,000
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11 years ago today, Bitcoin experienced its first-ever halving, and since then its price has soared from $12 to its current price of $37,000.
The first Bitcoin transaction occurred nearly 15 years ago on January 3, 2009, just a few months after Bitcoin’s pseudonymous creator, Satoshi Nakamoto, released the Bitcoin white paper in October 2008.
Focus on the primary and secondary markets of the currency circle. Committed to researching first-level skyrocketing coins and second-level high-quality potential coins. V: wu354133 has no threshold, no fees, no promotion of exchanges, no trading links.
On November 28, 2012, three years and 10 months after the first Bitcoin block was mined, the first halving event occurred. At the time, BTC was trading at around $12, according to StatMuse, which is 308,200% below Bitcoin’s current price, according to CoinGecko.
Although the Bitcoin halving and the digital currency’s supply cap of 21 million are not directly described in Satoshi Nakamoto’s white paper, the document still hints at some mechanism to control the creation of new BTC. The white paper reads:
“To compensate for increases in hardware speed and changes in interest in running nodes over time, the proof-of-work difficulty is determined by a moving average against the average number of blocks per hour. If they are generated too quickly, the difficulty increases .”
Unlike some basic information in the Bitcoin white paper, the halving aspect is mentioned in the Bitcoin source code. The halving details can be found in the valid.cpp file in the Bitcoin Core GitHub repository, and states that miners' block subsidies "halve every 210,000 blocks, which occurs every four years."
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The Bitcoin halving mechanism has been programmed into the Bitcoin mining algorithm to offset inflation by maintaining scarcity.
Before the first halving occurred, miners were compensated up to 50 BTC per block. After the first halving in 2012, the subsidy was slashed to 25 BTC, followed by the second halving in 2016, which reduced the subsidy to 12.5 BTC. The most recent Bitcoin halving occurred in 2020, cutting the block subsidy from 12.5 BTC to 6.25 BTC.
The Bitcoin price cycle has historically been affected by halvings as they significantly increase the scarcity of the cryptocurrency.Just a year after the first halving, Bitcoin had risen to nearly $1,000, while the second halving triggered a 350% surge within a year of the event, with Bitcoin subsequently rising to nearly $1,000 in December 2017. All-time high of $20,000.
Following Bitcoin’s third halving, BTC surged to an all-time high of nearly $69,000 in November 2021.
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On the anniversary of the first Bitcoin halving, the cryptocurrency community is awaiting the fourth Bitcoin halving, which is currently expected to occur on April 17, 2024. Many Bitcoin advocates are particularly bullish on Bitcoin prices as U.S. securities regulators raise their expectations for Bitcoin prices in 2024. Spot Bitcoin exchange-traded funds may eventually be approved.
However, the 2024 halving will not be the last. Bitcoin miner rewards are expected to be halved 34 times until they reach 0 BTC after all 21 million Bitcoins have been mined. According to the current schedule, the maximum supply of Bitcoin will reach 21 million coins around 2140.
The community is currently shipping:
L2 track ZK leader: zksync, backed by Little Fox: linea, infrastructure track: nxyz, Ai track: Gensyn, SocialFi track: enemy, story protocol: Story Protocol
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Focus on the primary and secondary markets of the currency circle. Committed to researching first-level skyrocketing coins and second-level high-quality potential coins. V: wu354133 has no threshold, no fees, no promotion of exchanges, no trading links.
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How do we need to lay out the first level now?
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The recent market is not a good one. Don’t be misled. This is not a bull market. Don’t buy heavily! ! ! ! Because now a pullback is inevitable.
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Yesterday's CZ resignation incident caused the market to fall slightly, but it immediately came back today. Does this indirectly tell us that the market is not short of funds? Now, friends who can read the wires will know that the current trend is still healthy. , the weekly level closing line may complete the intra-week adjustment. The daily level divergence still exists, so if Bitcoin breaks through in the short term, it is likely to undergo a correction. After the divergence is adjusted, the possibility of an effective breakthrough will be higher. Continue to hold positions.
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BTC Bitcoin Analysis
Bitcoin faces immediate resistance at $38,000, with the next hurdle at $38,700. On the downside, support is seen at $36,700 followed by $35,700.
Now be sure to pay attention to 35700. If the 4-hour level returns to this position again, then the short-term trend will continue to be destroyed, and the retracement will continue to test the bottom support. If the 4-hour level regains its position at 38,000, the market will continue to rise and challenge the strong resistance near 42,000.
Remember, don’t add positions until there is a breakthrough. The market consolidation cycle has been 9 working days and the market is facing changes.
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ETH Ethereum Analysis
Anyone who pays attention to Ether knows that this year's Ether high has not had much market activity. Now if it cannot break through 2150, it will continue to fall again, possibly reaching around 1980. If it falls below 1980, you need to pay attention to your position.
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The community is currently shipping:
L2 track ZK leader: zksync, backed by Little Fox: linea, infrastructure track: nxyz, Ai track: Gensyn, SocialFi track: enemy
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Below I will introduce some projects in the primary market that I am personally optimistic about.
First:ZkSync
As one of the leaders in the field of Ethereum's second-layer expansion, ZkSync has broad market prospects and commercial value. ZkSync is the most optimistic L2 project of Ethereum founder V God. With the continuous growth and development of the Ethereum ecosystem, Zkync uses Zk technology as an L2 solution. The first point of Zk technology is that the technical difficulty is very high, and it has solved the problem. arb and op cannot solve technical problems, and they are also the most promising solutions for V God and the Ethereum team.
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The four kings of L2 have reached the second place. They missed OP and ARB. They must not miss ZKS this time.
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Second: Enemy
enemy has established a brand new social network confrontation system based on Web3. Different from the typical socialfi speculative thinking of buying stocks or keys and waiting for the rise, enemy requires participants not only to pay attention to the influential blue V idols they bid with BNB, but also to always be vigilant about the status of hostile influencers, which is a large degree to activate participants’ enthusiasm and attention.
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Third: nxyz
nxyz belongs to the index protocol and data provider track. It is strictly needed for development and has great development prospects. nxyz aims to be a real-time, flexible blockchain data API with no speed limits, low latency, and multi-chain support. The nxyz team is strong, has worked together for many years, has successful entrepreneurial experience, and has obtained sufficient funds. Technically, nxyz’s lightning-fast blockchain API, built by the distributed systems engineers behind Google and Neeva, delivers real-time blockchain data in less than 200 milliseconds.
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Fourth: Gensyn
Gensyn's core goal is to democratize AI through decentralization plans so that more people can participate in the innovation and application of AI technology. The core idea of ​​the program is to utilize underutilized computing device resources to improve the efficiency and accuracy of AI models by building an open, decentralized verification system, and to provide more opportunities and possibilities for AI entrepreneurs. sex. It is an innovative and forward-looking plan that is expected to play an important role in the future AI field.
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Focus on the primary and secondary markets of the currency circle. Committed to researching first-level skyrocketing coins and second-level high-quality potential coins. V: wu354133 has no threshold, no fees, no promotion of exchanges, no trading links.
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In today’s market, how do we choose our own first-level currency?
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Focus on the primary and secondary markets of the currency circle. Committed to researching first-level skyrocketing coins and second-level high-quality potential coins. V: wu354133 has no threshold, no fees, no promotion of exchanges, no trading links.
Today we won’t talk about anything, let’s just talk about the primary market.
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What is the primary market?
The primary market usually refers to the private equity market of the issuer. To put it simply, it is the transaction before being listed on the centralized exchange. We can buy the project’s token token at a very low price from the channels we know, and wait for the token to be listed online. After the exchange reaches a certain profit, it can be shipped, in exchange for the maximum benefit at the lowest cost.
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Advantages of the primary market:
Because it is a currency that has not yet been listed on the exchange, you can buy it in advance through low-priced private placement prices to make a small gain.
How to choose a first-level project?
1. Look at the strength of the project party, the financing strength of the project, and the capital strength of the lead investor.
2. Look at how popular the market is, as well as information on the official website and Twitter, which capital institutions have raised funds, and then refer to the performance of the projects that have been led by the investors before, and comprehensively judge whether the project is of high quality, and then participate in donations. .
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“Many times, what we earn is just money from poor information.” This sentence actually makes sense.
If you can know something in advance, you can make money. This is the meaning of the information gap.
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The real opportunities come from the primary market, especially those awesome projects invested by top capital, so you can focus on them. Here are the real opportunities, but so are the risks.
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The cost of trial and error is not high, but the cost of missing out is high. The best way for everyone is to diversify your investments. Do not put all your chips in one project and plan your assets reasonably. As long as you can bet on one project in the primary market, You can make a comeback.
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Below I will introduce some projects in the primary market that I am personally optimistic about.
First:ZkSync
As one of the leaders in the field of Ethereum's second-layer expansion, ZkSync has broad market prospects and commercial value. ZkSync is the most optimistic L2 project of Ethereum founder V God. With the continuous growth and development of the Ethereum ecosystem, Zkync uses Zk technology as an L2 solution. The first point of Zk technology is that the technical difficulty is very high, and it has solved the problem. arb and op cannot solve technical problems, and they are also the most promising solutions for V God and the Ethereum team.
​
The four kings of L2 have reached the second place. They missed OP and ARB. They must not miss ZKS this time.
​
Second: Enemy
enemy has established a brand new social network confrontation system based on Web3. Different from the typical socialfi speculative thinking of buying stocks or keys and waiting for the rise, enemy requires participants not only to pay attention to the influential blue V idols they bid with BNB, but also to always be vigilant about the status of hostile influencers, which is a large degree to activate participants’ enthusiasm and attention.
​
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Third: nxyz
nxyz belongs to the index protocol and data provider track. It is strictly needed for development and has great development prospects. nxyz aims to be a real-time, flexible blockchain data API with no speed limits, low latency, and multi-chain support. The nxyz team is strong, has worked together for many years, has successful entrepreneurial experience, and has obtained sufficient funds. Technically, nxyz’s lightning-fast blockchain API, built by the distributed systems engineers behind Google and Neeva, delivers real-time blockchain data in less than 200 milliseconds.
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Fourth: Gensyn
Gensyn's core goal is to democratize AI through decentralization plans so that more people can participate in the innovation and application of AI technology. The core idea of ​​the program is to utilize underutilized computing device resources to improve the efficiency and accuracy of AI models by building an open, decentralized verification system, and to provide more opportunities and possibilities for AI entrepreneurs. sex. It is an innovative and forward-looking plan that is expected to play an important role in the future AI field.
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The community is currently shipping:
L2 track ZK leader: zksync, backed by Little Fox: linea, infrastructure track: nxyz, Ai track: Gensyn, SocialFi track: enemy
​
Focus on the primary and secondary markets of the currency circle. Committed to researching first-level skyrocketing coins and second-level high-quality potential coins. V: wu354133 has no threshold, no fees, no promotion of exchanges, no trading links.
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Here’s Why Bitcoin (BTC) Price Surges to $37,000 Today

Focus on the primary and secondary markets of the currency circle. Committed to researching first-level skyrocketing coins and second-level high-quality potential coins. V:wu354133. No threshold, no fees, no promotion of exchanges, no trading links.
$BTC
Bitcoin price surged to $36,700, likely driven by anticipation of the U.S. Securities and Exchange Commission’s (SEC) decision on a Bitcoin ETF and a bullish trend in the cryptocurrency market.
Starting today, the U.S. Securities and Exchange Commission has a six-day decision period to approve multiple Bitcoin ETF applications.
High-profile predictions suggest that the price of Bitcoin could soar to between $200,000 and $350,000, driven by factors including social unrest and the 2024 halving event.

After a few days of relatively low volatility, the price of Bitcoin is starting to climb again. A few hours ago, it hit an 18-month high above $36,700 (according to CoinMarketCap).
While this sounds like good news to the bulls, it’s worth looking at the main reasons for the recent rally.
One possible factor could be the pending spot Bitcoin exchange-traded fund (ETF) applications filed by numerous financial giants such as BlackRock and Invesco over the past few months.
Bloomberg ETF analysts James Seyffart and Eric Balchunas claim that starting today (November 9), the U.S. Securities and Exchange Commission (SEC) has six days to approve or reject the ETF.
Another factor driving Bitcoin higher could be the overall bullish conditions in the market. Most digital assets have surged in the past 24 hours, while the global cryptocurrency market capitalization has jumped to $1.4 trillion.
Bitcoin has had a pretty successful year so far, with its valuation up more than 120% since January 1. However, several experts believe that this is just the beginning of a further rally that could push Bitcoin to new heights.
Two prominent figures who have spoken out about this are Max Keizer (Chairman of Salvadoran Bitcoin mining startup Volcano Energy) and Michael Saylor (Executive Chairman of MicroStrategy).​
The former believes that the leading digital asset could surge to $200,000 following possible social unrest, while the latter believes that BTC will trade above $350,000, driven by the 2024 halving event.