As the Bitcoin (BTC-USD) bull run continues, investors are preparing for the crypto’s next halving event. Every time this takes place, the already finite supply of Bitcoin is reduced when the incentive for mining it is cut in half.
The Bitcoin halving takes place roughly every four years and as each halving draws near, crypto prices across the board tend to surge as BTC skyrockets in value. Now, as both mainstream cryptos and altcoins display impressive growth, investors are likely wondering: When is the next Bitcoin halving?
It may be sooner than you think.
The Next Bitcoin Halving
For months, investors have been marking their calendars for April 28, 2024, the date originally expected to be the next Bitcoin halving. Now, it seems that the important day may have been moved up. Coindesk reports that “the halving is currently looking likely to fall around April 15, according to Nicehash’s countdown.”
Per Coindesk, the crypto’s recent price surge has drawn more miners, causing the network to speed up in the process.
This would be in keeping with history, as the previous halving also happened earlier than expected. But a different date doesn’t mean that this next halving is any less significant for crypto prices. InvestorPlace contributor Joel Baglole notes:
“Bitcoin was designed to cap the total supply ever to exist at 21 million tokens. To date, 19 million Bitcoin have been mined and released into circulation. A halving event occurs once every four years in order to slow the rate at which new Bitcoin comes into circulation, as well as cut the rewards given to cryptocurrency miners by 50%. The price of BTC has risen sharply after previous halving events. Since the last halving event in 2020, BTC-USD’s price has increased nearly 600%.”
Admittedly, Bitcoin’s successful season is also partially due to the recent launch of BTC exchange-funds (ETFs), which have helped generate new momentum for crypto markets. But there’s no denying that the next Bitcoin halving will have a significant impact on crypto, regardless of whether it takes place on April 15, April 28 or a different date.
On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
