Black Swan or Bull Run? What Lies Ahead for Bitcoin Halving 2024?
The post Black Swan or Bull Run? What Lies Ahead for Bitcoin Halving 2024? appeared first on Coinpedia Fintech News
As Bitcoin’s next halving event draws near, whispers and speculations are high. With only seven months left until the highly anticipated event, a well-regarded crypto commentator, known as Titans of Crypto, recently shared some intriguing insights that debunk the prevailing notion of an impending ‘Black Swan’ event.
The Bitcoin Halving Hype
Bitcoin’s halving is an event that occurs approximately every four years. It slashes the rewards miners receive by half, making the available supply of Bitcoin more scarce. Historically, this event has heralded significant price movements. The logic is simple: reduced supply often leads to increased demand, driving prices upward.
#Bitcoin Rally approaching the Halving.
Yes we only had 3 occurrences to rely on and past performance is not guarantee of future results.
Yet as we have 7 months left before the next halving I can't help but compare the previous #BTC price action approaching past Halvings.… pic.twitter.com/cTjX8FXi4w
— Titan of Crypto (@Washigorira) September 19, 2023
When examining previous Bitcoin price trends leading up to the halving events, Titans of Crypto highlighted some discernible patterns:
- 2012: Bitcoin experienced a noticeable price rally.
- 2016: Again, there was a surge in Bitcoin’s value.
- 2019/2020: Just as Bitcoin’s value began ascending, an unforeseen ‘Black Swan’ event disrupted the market. However, it wasn’t long before Bitcoin resumed its upward trajectory.
The Black Swan Dilemma
The term Black Swan refers to unpredictable events with potentially severe consequences. Given the sudden market downturn caused by a Black Swan event in 2020, many investors are on the edge, fearing another such occurrence. Some, though, want it to happen so they can snag BTC at a cheap price like it happened three years ago.
Regardless, Titans of Crypto argues that if everyone is anticipating a Black Swan, it contradicts the very nature of the event, which is its unpredictability. Moreover, with a considerable section of the market hoping for it, the likelihood of it actually happening seems slim.
So, with the past as our guide and the halving on the horizon, what’s the probable fate of Bitcoin? If Titans of Crypto’s insights hold, Bitcoin’s price might stay stable or even see a surge. Of course, like all things in the crypto sphere, nothing is set in stone. But for now, the majority might need to rethink their Black Swan expectations.
