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BITCOIN PRICE PROJECTION
From $63K to $1M? Bitcoin’s 4th Halving and What It Means for the Price Trajectory
As Bitcoin enters a new halving cycle, historical trends offer powerful clues for long-term investors and traders alike.
Bitcoin, the world’s premier digital currency, has a built-in mechanism that makes it both scarce and intriguing: the halving. As we move away from day zero of the fourth halving cycle, which occurred on April 20, 2024, it’s the perfect time to explore how Bitcoin’s price has historically reacted to these events and what this might mean for its future price trajectory.
What Are Bitcoin Halving Events?
First, let’s break down what a halving is. Bitcoin operates on a decentralized blockchain where miners validate transactions and are rewarded with newly minted Bitcoin. The halving is a pre-programmed event that occurs approximately every four years, or after every 210,000 blocks, reducing the block reward for miners by half.
This mechanism, coded into Bitcoin’s protocol, ensures that Bitcoin’s total supply — capped at 21 million coins — is released gradually, mimicking the scarcity of precious metals like gold. The first halving in 2012 reduced the…
