Quote from: MFahad on November 25, 2023, 04:19:17 PM

Quote from: Argoo on November 23, 2023, 01:23:02 PM

The next Bitcoin halving should take place on April 7, 2024. There are less than five months left before this grand event, which many in the cryptocurrency market are eagerly awaiting. A few months before the halving, whales can arrange a temporary drop in the price of Bitcoin so that weak hands of newcomers dump more and thus the whales can buy up potential cryptocurrency. Therefore, in the near future, I still assume a significant drop in the price of Bitcoin, but not for a long period. Closer to the fall of next year, we should see another cryptocurrency price boom.

Halving helps in the boosting of bitcoins price but everyone is already prepared to take benefit from halving therefore as they achieve their target they will definitely sell their bitcoin which will create another bear market. Bull and bear market is two particularly events of cryptocurrency that both are beneficial but it is upto us that are we making negative or positive use of it.

About future we cannot guess anything but it is normal that sometimes price will drop and sometimes price will increase. Many people have made investment in Bitcoin or still they are buying because of halving. Halving is an essential part so those who become able to buy bitcoin are taking forward step wisely while others who are still waiting that price will goes down and they will then buy bitcoin so they are just wasting their time.

Bitcoin usually follows the four year cycle and every four years, we have bitcoin halving where the bitcoin miner's reward is cut in half and due to this reason, we see new all-time highs and a bull market in the bitcoin price.

It is not a coincidence that we see this price action every four years, in fact the bitcoin is programmed in such a way and if the bitcoin does not reach new highs, the miners may not be interested in mining bitcoins with the same resources but getting half the reward.

The price in factor keeps miners motivated to keep mining the blocks because they get high prices for every bitcoin mined.