Bitcoin

Did Bitcoin Miss the Memo? Halving Has Come And Gone

April 20, 2024 was the Bitcoin halving day.

Photo by Kanchanara on Unsplash

The air crackled with anticipation. Bitcoin’s halving, a preordained event that cuts the mining reward in half, loomed large. Pundits predicted a meteoric rise, a shot “to oblivion” as some enthused.

Then, the halving arrived, and… well, things were quieter than expected.

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Bitcoin settled into a new normal, its price action subdued. The fervent discussions, the endless speculation – all dampened to a murmur. The crypto community, it seemed, was collectively holding its breath.

But what’s next for the king of cryptocurrency?

Will the predicted price surge materialize in a delayed rally? Or has the halving, instead of fanning the flames, put a damper on the entire market?

Photo by fabio Spano on Unsplash

One metaphor making the rounds is that the halving has “tamed the bull.”