Track market-moving stories before they get noisy

Bitcoin hasn’t done well in the past two days; since hitting $9,200 on Saturday, the cryptocurrency has plunged as low as $7,600, more than 17% lower than the weekend high, in a move that has liquidated over $200 million worth of BitMEX long positions in the process.

The move undoubtedly caught traders off guard, hence the massive amount of liquidations. But, there are some weighing in on what crashed Bitcoin.

Bitcoin’s Drop May Be Hedge Funds According to Raoul Pal — CEO of finance media startup Real Vision, former Europe hedge fund sales lead at Goldman Sachs, and a long-time Bitcoin adopter (since 2013) — BTC’s weakness may be related to hedge funds. He explained in a tweet published on Monday:

“It feels like any hedge fund that was long bitcoin is having to liquidate. VAR takes no prisoners. (For those new to VAR it is the measure of risk in a portfolio and is connected to volatility, so as vol goes up of all assets, they have to reduce risk).”

It feels like any hedge fund that was long bitcoin is having to liquidate. VAR takes no prisoners. (For those new to VAR it is the measure of risk in a portfolio and is connected to volatility, so as vol goes up of all assets, they have to reduce risk). $BTC #Bitcoin

— Raoul Pal (@RaoulGMI) March 9, 2020

Indeed, BTC’s volatility, per data from Skew, has spiked over the past few days as the market has trended lower, likely shifting allocations.

While Pal sees weakness due to the hedge fund narrative, he did remark that Bitcoin’s drop is a “buying opportunity,” adding that the current situation in the fiat markets is “accelerating the need for a new financial system over time. We know where this is leading to – the digital revolution.”

There Are Other Crypto Catalysts Although this move may partially be hedge funds deleveraging their portfolios, there are other potential catalysts sending Bitcoin lower, as shared by prominent crypto analyst Jacob Canfield. 

The COVID-19 outbreak: after an extremely strong rally over the past few months, markets across the board, from American stocks (Dow Jones, S&P 500, etc.) to crypto-assets, were dealt serious blows over the past few weeks. Although some have said that the collapse in the price of Bitcoin is not correlated with the sell-off in other markets, analysts have observed an absence of volume in mainstream crypto markets since the outbreak started. This suggests there is a strong absence of liquidity, increasing the chances of a crash like the one we just saw occurring. Bitcoin miners are hoarding coins: Charlie Morris, founder of a crypto analytics platform, ByteTree, recently suggested that miners hoarding BTC has historically coincided “with negative returns and reflects a weaker market bid.” PlusToken scam moves coins again: Bitcoin blockchain researcher Ergo found that the wallets of PlusToken — the multi-billion-dollar crypto scam that last year folded and purportedly caused the mini bear market — deposited 13,000 BTC (worth over $100 million) into privacy mixers earlier this week. The scammers previously did this prior to sending the mixed funds to exchanges, which were then presumably sold for fiat or a fiat equivalent. Featured Image from Shutterstock

Posted: March 28, 2020

The Bitcoin halving is now less than 46 days away and is the most anticipated one yet. ‘Anticipated’ due to the recent drop in Bitcoin’s price and the sordid state that the miners are in.

Bitcoin Miners are without a doubt the backbone of the community and help keep the network running. For this, the miners are rewarded with Bitcoins which are sold on the open market. Halving is set to take place once every four years, to control the amount of BTC flowing into the market. Hence, every 4 years, the block reward is halved.

Depending on the price, the miners can profit from selling BTC or register a loss. Hence, Bitcoin’s price always plays a crucial role in determining the health of the mining industry. Ergo, in light of the drop in Bitcoin’s price before the halving, it is interesting to see how the miners react. In fact, some argue that miners stood tall and did not falter during the recent dip.

Coup de grâce A study by Blockware Solutions revealed what the next Bitcoin halving could “trigger,” and it is nothing less than a coup. According to the study, the mining network is classified into layers, depending on the electricity costs [since electricity constitutes 95% of the costs miners bear].

At present, miners with lower electricity costs are largely profitable and hence, the need to upgrade to new mining rigs is low. However, miners with higher electricity costs are relatively less profitable.

“For Layers 1 & 2, the opportunity cost of Bitcoin/Balance Sheet depletion in exchange for a lower cost of production by upgrading their mining rigs is not favorable based on the present percentage of old mining equipment still on the network.”

The development of “Next Generation Mining Rigs” like Bitmain’s S17 Pro 50T can give miners in the lower layers an edge, especially since the newer mining rigs produce more hash power while consuming less electricity.

“Each S17 Pro 50T deployed is the equivalent hash power of four S9 13.5T mining rigs.”

Due to the new mining rigs, the advantage of miners with lower electricity costs is reduced. The study concluded by stating that after the halving, “layers 1 & 2 will remain competitive with old mining rigs as long as other layers are using old mining rigs.” However, if other layers move to Next Generation Mining Rigs, then,

“layers 1-2 will then be forced to upgrade… The Halving will likely be the trigger for this event”

Hence, if layers 1-2 slack off, then they might face a coup since mining is about survival and being more competitive than peers.

The Bitcoin halving event is a significant occurrence in the crypto world. It occurs roughly every four years, reducing the Bitcoin mining block reward by half. The history of Bitcoin halvings shows that the event impacts the supply and demand mechanics and price of Bitcoin. Since Bitcoin was created, there have been three halving events, with the fourth expected to occur in April 2024. 

Here’s everything you need to know about Bitcoin’s halving history, including what the halving event is, common misconceptions about it, and what to expect in 2024. 

Methodology In selecting the best platforms for users to buy Bitcoin BeInCrypto considered factors such as ease of use, security features, trading tools, deposit methods, commissions, and additional features offered by the platforms. BeInCrypto’s product teams tested a number of leading exchanges over a period of six months before narrowing down the top options. Here’s why we chose each.

1. Coinbase:

Coinbase’s user-friendly interface makes it accessible to both beginners and experienced traders. The platform’s intuitive design simplifies the buying process, allowing users to purchase Ethereum with ease.

Coinbase also provides users with advanced trading tools and charts, empowering them to make informed decisions. These tools enable users to analyze market trends and execute trades effectively.

Security is paramount when it comes to purchasing Ethereum and any other crypto. Coinbase employs state-of-the-art encryption protocols to safeguard users’ funds and personal information, providing peace of mind to investors.

2. OKX:

OKX stands out for its support of leverage trades, catering to both casual investors and seasoned traders looking to maximize their returns. This feature enhances the platform’s appeal to a wide range of users.

The global platform also offers multiple deposit methods, providing flexibility and convenience to users worldwide.

OKX also notably offers competitive commissions, allowing users to trade Ethereum cost-effectively. Lower fees translate to higher potential returns for investors, making OKX an attractive choice.

3. BDYFi:

With advanced security measures and an easy to use interface, BYDFi suits crypto traders looking to explore the world of spot markets, derivatives, and leverage. The platform supports over 250 cryptos and allows traders to make transactions without KYC registration, perfect for those looking for privacy.

Whether users prioritize simplicity, trading flexibility, or additional features, these platforms cater to diverse needs, providing a comprehensive solution for Bitcoin investors.

To learn more about BeInCrypto’s verification methodologies, follow this link.

In this guide:

Where to buy Bitcoin before the halving?What is Bitcoin halving?How does the four-year cycle of Bitcoin work?Common misconceptions about Bitcoin halving The history of Bitcoin halvingsOverview of all Bitcoin halvingsBitcoin halving history: Key eventsWhat to expect in 2024’s Bitcoin halving?How many more Bitcoin halvings will there be?What happens after the last Bitcoin halving event in 2140?How to prepare for a halving event How do Bitcoin halvings affect the price of BTC?What can the Bitcoin halving history tell us?Frequently asked questionsWhere to buy Bitcoin before the halving?The Bitcoin halving countdown is on. Before we dive into the history of Bitcoin halving, here are a few recommended platforms where you can pick up BTC ahead of this seminal event.

Coinbase

Platform

Brokerage

Fees

$0.99-$4.19

Availability

100+ countries

• Easy to navigate

• Powerful tools and charts

• Safe and secure

• Regulated

• State-of-art encryption

OKX

Platform

Exchange

Fees

0.08% (maker) | 0.1% (taker)

Availability

160+ countries

• Supports leverage trades

• Supports safe and secure transactions

• Multiple deposit methods

• Competitive commissions

• Low fees

BYDFi

Platform

Exchange

Fees

0.1-0.3%

Availability

170+ countries

• Cross-asset swaps

• Transparent and low fee structure

• One stop easy-to-use trading platform

• Competitive affiliate program

What is Bitcoin halving?The Bitcoin halving event, also called the Bitcoin block reward halving, is a periodic event in which the block rewards are reduced for Bitcoin miners by half. 

The halving event occurs once 210,000 blocks have been mined on the Bitcoin blockchain. Each miner receives a specific amount of Bitcoin once they mine a block on the Bitcoin network. When the Bitcoin halving event occurs, this amount is reduced by half.  

The Bitcoin halving is an essential part of the Bitcoin ecosystem, so much so that there is an active countdown each time it is expected to occur. Bitcoin was created with a deflationary mechanism and a fixed supply of 21 million coins. This means there can only ever be 21 million Bitcoins. As of mid-April 2024, over 19 million BTC have been mined. The reward halving was programmed into Bitcoin’s code to occur similarly until all 21 million coins were mined.  

It’s expected that there will be 32 Bitcoin halving events. To date, there have been three. The first Bitcoin halving event occurred in November 2012, and the block reward was halved from 50 BTC to 25 BTC. In July 2016, the second halving event took place. The block reward was halved from 25 BTC to 12.5 BTC. The third halving event occurred in May 2020, and the block reward was halved from 12.5 BTC to 6.25 BTC.  

The fourth Bitcoin halving event is expected to take place in April 2024. The block reward will be halved from 6.25 BTC to 3.125 BTC. The last halving event is scheduled to take place in 2140, the year when the last BTC will be mined. Once the last halving event occurs, Bitcoin miners will exclusively earn transaction fees. BTC users will pay this as an incentive to continue securing the Bitcoin blockchain and validating transactions. 

How does the four-year cycle of Bitcoin work?As a potential BTC investor, it’s essential to understand how Bitcoin’s four-year cycle works so that you can choose which Bitcoin halving investment strategies to employ and how to invest in BTC. 

Halving cycles began in 2009 when Satoshi Nakamoto, the creator of Bitcoin, mined the first block of Bitcoin. This was known as the Genesis block. In the early days after its launch, bitcoin had no monetary value, and people needed to be motivated to participate in mining. After the Genesis block, early miners were rewarded 50 BTC for every successful Bitcoin block they mined. 

It’s important to note that although Bitcoin didn’t really have any value at this point, the launch of the first-ever Bitcoin exchange in March 2010 (BitcoinMarket.com) led to an interest in this new digital currency. The Bitcoin price surpassed $1 in 2011 and experienced an upward trend after that.

With the fourth halving event set to occur this month, the process will continue until all 21 million Bitcoins have been mined. The table below summarizes the Bitcoin halving events so far.

EventDateBlock numberBlock rewardBTC created per dayLaunch of BTCJanuary 2009050 BTC7,200First halvingNovember 2012210,00025 BTC3,600Second halvingJuly 2016420,00012.5 BTC1,800Third halvingMay 2020630,0006.25 BTC900Fourth halving~April 2024840,0003.125 BTC450The halving event creates scarcity, which is supposed to impact the value of Bitcoin, causing it to experience a price increase gradually over time. Its occurrence creates an increased demand for bitcoin despite its diminishing rate of new creation, which results in an upward price increase. 

Although the Bitcoin halving history has always shown an increase in the price of Bitcoin around 12 to 18 months after each event, investing in Bitcoin shouldn’t be done mindlessly. An up-to-date Bitcoin technical analysis can help you make an informed buying and selling decision while considering other market drivers.   

Common misconceptions about Bitcoin halving Although the Bitcoin halving process is a much-awaited event in the crypto market, it’s also an event that’s shrouded by various misconceptions. Below are some of the more common ones:

Bitcoin halving results in an instant price increase: The halving history has always impacted the price of Bitcoin. However, these price increases have not always been as immediate as many people tend to think. Instead, the gains tend to be influenced by factors beyond the halving event. In addition, the price increase tends to be gradual, spanning several months.  Bitcoin halving leads to miner exits: Another big misconception surrounding halving events is that BTC mining will become unprofitable, leading to a mass exit of miners. However, this is not the case. Adjustments in the mining difficulty can help support a miner’s profitability (due to an increasing price) while also maintaining the protocol’s operational stability.  Bitcoin halving is specific to Bitcoin: Although the Bitcoin blockchain was the first to implement the halving mechanism, the process is not unique to Bitcoin only. Other digital currencies like Litecoin, Bitcoin Cash and Dash have incorporated similar techniques to regulate their coins’ inflation. Bitcoin halving is priced beforehand: Many believe the halving event is always already priced in. While the anticipation of the event can affect the price of Bitcoin, the intricacy of external factors and market dynamics indicate that the impact of the halving event cannot be fully recorded in advance.  Bitcoin halving results in increased transaction fees: Some crypto enthusiasts assume that the halving event leads to increased transaction fees, given that the block rewards diminish. However, this is different, as the available block space and demand influence network fees. Although network fees might surge, the change isn’t entirely dependent on the Bitcoin halving events.  Bitcoin halving guarantees BTC’s lasting value: While it would be great to see the value of a digital asset like Bitcoin constantly appreciate, halving does not guarantee this. Several factors influence Bitcoin’s value, such as market sentiments, regulatory changes, and technological advancements.  The history of Bitcoin halvingsTo date, three Bitcoin halving events have occurred since the digital asset was launched in 2009. Halving events have gradually impacted the price of Bitcoin, a trend that many BTC holders and investors hope will continue. 

Every Bitcoin halving event has led to increased media attention, significant price volatility, and speculative anticipation leading up to and after the event. That said, let’s have a look at the overview of all Bitcoin halvings below.

Overview of all Bitcoin halvingsBelow is a table of all Bitcoin halving events and the year they are expected to occur. Please note that some figures have been rounded off. 

Est. YearBlock numberBlock rewardNew BTC minedTotal BTC mined2009050002012210,0002510500000105000002016420,00012.55250000157500002020630,0006.52625000183750002024840,0003.12513125001968750020281,050,0001.56256562502034375020321,260,0000.781253281252067187520361,470,0000.390625164062.520835937.520401,680,0000.195312582031.2520917968.7520441,890,0000.0976562541015.62520958984.3820482,100,0000.04882812520507.812520979492.1920522,310,0000.024414062510253.9062520989746.0920562,520,0000.012207031255126.95312520994873.0520602,730,0000.0061035156252563.47656320997436.5220642,940,0000.0030517578131281.73828120998718.2620683,150,0000.001525878906640.869140620999359.1320723,360,0000.0007629394531320.434570320999679.5720763,570,0000.0003814697265160.217285220999839.7820803,780,0000.000190734863280.1086425820999919.8920843,990,0000.000095367431640.0543212920999959.9520884,200,0000.000047683715820.0271606420999979.9720924,410,0000.000023841857910.0135803220999989.9920964,620,0000.000011920928955.00679016120999994.9921004,830,0000.0000059604644752.50339508120999997.521045,040,0000.0000029802322381.2516975420999998.7521085,250,0000.0000014901161187.50.625848770120999999.3721125,460,0000.0000007450580593.750.312924385120999999.6921165,670,0000.0000003725290296.8750.156462192520999999.8421205,880,0000.0000001862645148.43750.0782310962720999999.9221246,090,0000.0000000931322574.218750.0391155481320999999.9621286,300,0000.0000000465661287.1093750.0195577740720999999.9821326,510,0000.0000000232830643.55468750.00977888703320999999.9921366,720,0000.0000000116415321.77734380.0048894435172100000021406,930,0000.000000058207660.888671880.00488944351721000000Bitcoin halving history: Key eventsNow that you have an overview of all Bitcoin halving events, past and future, let’s discuss the three that have already occurred. 

The first Bitcoin halving: November 2012The first ever Bitcoin halving event occurred in November 2012, marking an important part of the digital asset’s history. Let’s take a look at the before and aftermath of the first halving event:

Key data:Date: November 28, 2012

Total supply: Before the first halving event, Bitcoin had a total supply of over 10.5 million coins. 

Block rewards: Miners were rewarded 50 BTC for every new Bitcoin block they successfully mined before the halving event. 

Price of Bitcoin: Before the event, the price of Bitcoin was at roughly $12.35.

Block number: The halving event occurred after 210,000 blocks of Bitcoin had been mined. 

Bitcoin price movements According to data on CoinMarketCap, before the first halving event, the price of BTC was around ~$12. Following the halving, the price of Bitcoin began to increase gradually. By the end of March 2013, it had surged to nearly $90. This first Bitcoin halving event paved the way for an ensuing bull run. 

Bitcoin price: CoinMarketCapKey takeaways  The event reduced the Bitcoin block reward from 50 BTC to 25 BTC. This led to an adjustment to the difficulty of Bitcoin mining, making Bitcoin scarcer as the rate of new BTC entering circulation was reduced.  The first halving event created much anticipation for subsequent ones, as it impacted the price of BTC, gradually increasing it. So, while the increase wasn’t instant, 2013 achieved the highest price of over $1,000 since its launch in 2009. This event also set the pace for future halving events.  Since the first halving event, Bitcoin has undergone a significant evolution. This has seen it grow to become the biggest digital currency by market cap and innovate to compete fairly with other cryptocurrencies.  The second Bitcoin halving: July 2016Four years later, in July 2016, the Bitcoin network underwent its second halving event. Let’s examine what transpired before and after the event.

Key data:Date: July 9, 2016.

Total supply: Before the second halving event, there were around ~15.7 million coins in circulation. 

Block rewards: The block rewards for miners reduced from 25 BTC to 12.5 BTC. 

Price of Bitcoin: The Bitcoin price was slightly over $650

Block number: The halving event occurred after 420,000 blocks of Bitcoin had been mined.

Bitcoin price movements The second halving event in Bitcoin’s halving history set the momentum for significant price fluctuations. In early 2017, the price of Bitcoin grew to roughly $1,000. At the end of 2017, Bitcoin’s price had surged to over $17,000 by December 2017. The notable price surge was a result of various factors, including market sentiment and media coverage, among others.

Bitcoin price: CoinMarketCapKey takeaways  The second halving event reduced the block rewards from 25 BTC to 12.5 BTC, further emphasizing Bitcoin’s scarce nature. Bitcoin’s price surge also highlighted the impact of the halving events on Bitcoin’s price, making BTC an attractive store of value for BTC holders. In addition to the price increase, the second halving received significant media coverage and sparked conversation on social networks. This contributed to its adoption and continued growth and also shaped the Bitcoin narrative.  The third Bitcoin halving: May 2020Four years ago, in May 2020, the third halving event occurred. Let’s dive into the before and after effects of the third event.

Key data Date: May 11, 2020.

Total supply: Bitcoin’s total supply was at roughly 18.35 million coins before the halving event took place. 

Block rewards: The block rewards were reduced from 12.5 BTC to 6.25 BTC.

Price of Bitcoin: The price of BTC was slightly over $9,000. 

Block number: The halving event occurred after 630,000 blocks of Bitcoin had been mined.

Bitcoin price movements The third halving event significantly impacted the price of Bitcoin. The price of BTC gradually rose from around $9,000 before the halving event to around $27,000 by December 2020. 2021 was a good year for Bitcoin holders as it ushered in a bull run that saw the price of BTC skyrocket to trade at over $64,000 before it started declining as the crypto winter took hold.

Bitcoin price: CoinMarketCapKey takeaways  The third halving saw the mining reward reduce from 12.5 BTC to 6.25 BTC. In addition, it also helped to push the widespread adoption of Bitcoin among investors, given the diminishing number of coins entering the market.  The price increases experienced after this halving event established the role of halving events to the price of BTC. Increased interest from investors also made Bitcoin trend with the help of various memes.  Bitcoin continued to be recognized as an important store of value as it garnered increased attention from the general public, institutional investors, and the media.  The May 2020 halving event also reinforced Bitcoin’s importance within the wider financial sector. Bitcoin continued to innovate, introducing a wide variety of financial products such as Bitcoin options and futures.  What to expect in 2024’s Bitcoin halving?The fourth Bitcoin event is expected to occur in April 2024. There has been much anticipation leading up to it, with the price of Bitcoin rallying to reach an all-time high of $73,750 on March 14, 2024.

Miners production cost for 1 #Bitcoin right now is approx 50k$

In less than one week after halving, it will be approx 100k$

It means buying bitcoin at 60k$~ today is similar to buying it around 30k$ a few months ago

Maybe we chop few days after halving but it won't take much…

— CryptoVikings.HL (@CryptoVikings07) April 15, 2024 Besides the known drivers that impact the price of Bitcoin, a key development that impacted the price of Bitcoin in the last few months has been the approval of the Bitcoin ETFs by the U.S. Securities Exchange Commission. 

“The halving is the ultimate geek event for bitcoiners, but the 2024 iteration takes it up a notch because reduced supply combined with fresh ETF demand creates an explosive cocktail. What makes this halving unique is bitcoin has already surpassed the last cycle’s high — something it’s never done ahead of the quadrennial event — which makes trying to forecast the length and ferocity of this cycle much trickier.”

Antoni Trenchev, co-founder of Nexo: CNBC But even as the crypto community gears up for the fourth halving event, what exactly should you expect from the 2024 Bitcoin halving event?

Potential price volatility: Given Bitcoin’s speculative nature as a digital asset, the period around the halving tends to experience increased price volatility. Ergo, investors need to prepare for potential price swings as the market adjusts to the aftermath of the halved block reward.  Reduced block rewards: As with any other halving event, the fourth halving event will see the block reward reduce by half, from the current 6.25 BTC to 3.125 BTC.  Speculation and anticipation: The build-up to any Bitcoin halving event is always rife with anticipation and speculation on how the occurrence will impact the price of Bitcoin. If history is anything to go by, Bitcoin’s price has tended to increase in the lead-up to the event. Still, it’s important to note that various factors beyond the halving event influence the crypto market. Investors can use the cup and handle pattern to verify the potential of a price increase. Scarcity and supply: Halving events have always reinforced Bitcoin’s scarcity, attracting many new investors to BTC as “digital gold.” The reduced rate at which new coins enter the market causes an increased demand in BTC. This results in upward pressure on Bitcoin’s price and other digital assets. Nonetheless, this impact is not always instantaneous and tends to unfold over a couple of months and even years after the halving.  Heightened institutional interest: The period preceding the event has already experienced growing interest from institutional investors keen on finding suitable Bitcoin and crypto mining stocks to invest in. With the halving, it’s anticipated that the interest will expand and witness increased participation from more established corporations, financial institutions, and investment firms that have adopted BTC as an investment instrument.  Regulatory developments: With the hype surrounding halving events, it’s expected that there will be more calls for regulatory developments as BTC continues to experience widespread adoption. How many more Bitcoin halvings will there be?The last Bitcoin halving event is expected to occur in 2140. This is when the last BTC will be mined, and no new BTC will enter the market. In total, there will be 32 halving events. So far, only three halving events have taken place. This means that there are 29 more halving events left.

What happens after the last Bitcoin halving event in 2140?After the last Bitcoin halving in 2140, there won’t be any more Bitcoin that will be mined. It’s anticipated that this will be the year when the 21,000,000th BTC will be mined.

The Bitcoin protocol will transition to fully relying on transaction fees as the rewards that miners will receive. Given that 2140 is still far off, it’s unclear what the long-term impact will be on Bitcoin’s price, security, and overall role in the global financial system. Much of this remains speculative and will depend on various factors, such as broader economic conditions and technological advancements. 

How to prepare for a halving event There are various ways that investors can prepare for a halving event. Let’s take a look at some of the ways you can prepare for a Bitcoin halving:

Think long-term: Halving events has always resulted in some price volatility for BTC and other coins in the short term while showing significant growth in the long term. As such, investors need to adopt a long-term investment approach. Research: As always, investors need to do their own research before choosing to invest in a digital asset like Bitcoin. In addition, ensure you do your own analysis on broader economic conditions, investor sentiment, and market trends. This will help you have a clear grasp of past and upcoming halving events and historical price movements.  Manage your risk: Different investors have different risk tolerance and appetite. Before investing in crypto, ensure that you establish clear investment goals. Consider incorporating a risk-averse investment strategy such as the dollar-cost averaging or create a defense trading strategy based on various technical indicators such as the RSI indicator combined with Bollinger Bands, MACD, and others.    Diversify your portfolio: Investors can diversify their investment portfolio to include various digital assets. This will help to mitigate risks, given that Bitcoin’s price can be quite volatile. Although halving events historically have led to gradual price increases, there are no guarantees, and diversification can aid in protecting your investments.  How do Bitcoin halvings affect the price of BTC?Bitcoin halvings have historically been associated with bitcoin price increases. The reduced rate with which new BTC creation is achieved helps to create scarcity as the supply of new coins diminishes. This, in turn, tends to drive up the demand for bitcoin and, by extension, its price. 

However, a halving event does not always guarantee that it will immediately impact the price of bitcoin. Diversifying your portfolio and deploying various investment strategies can help protect your investments from volatile price swings in the market.

What can the Bitcoin halving history tell us?This guide to the Bitcoin halving history demonstrates that these events play an important role in the entire crypto market. Although they are subject to much-awaited anticipation and speculation, many savvy investors choose to focus on the coin’s long-term performance.

While the halving events tend to bring with them certain benefits, it’s important to note that as the block reward diminishes, there’s a chance that the changes could impact the protocol security and processing times. With the decreasing supply of new Bitcoin, demand tends to increase, which underscores the scarcity principle of bitcoin as “digital gold” and a store of value. The events have been known to be very pivotal and essential in the ongoing development of Bitcoin and its growth as a digital asset. 

Frequently asked questions Is halving good for Bitcoin? Yes, halving is good for Bitcoin. Bitcoin halving events have several benefits to the Bitcoin network. Reducing the rate at which new BTC is mined increase the level of scarcity, which impacts the price of Bitcoin. Moreover, halving events also typically attract new crypto investors, leading to increased trading activities.

Is Bitcoin halving every 4 years? Yes, Bitcoin halving was programmed to automatically self-execute roughly every four years once a set of 210,000 blocks had been mined. This will continue until all the 21,000,000 Bitcoin have been mined.

How many Bitcoin halvings are left? Currently, 29 Bitcoin halving events have been left. So far, three halving events have occurred since BTC’s inception in 2009. The first halving occurred in 2012, and the second and third in 2016 and 2020, respectively.

Will BTC go up after halving? Historically, the price of BTC has tended to go up gradually after a halving event. However, there are no guarantees that this will always be the case as the price of BTC is always influenced by factors like investor sentiment, market demand and supply, and technological advances, among others.

How high will Bitcoin go in 2024? As a digital asset, Bitcoin’s price is susceptible to various market conditions that make it volatile. Although the price of bitcoin reached an all-time high in March 2024, it’s nearly impossible to say how high it will be as various factors influence its price.

How much will 1 Bitcoin be worth in 2030? Several industry experts and crypto analysts speculate that Bitcoin’s price in 2030 will potentially be over $250,000, but there is no guarantee. Investors, therefore, need to tread very lightly and avoid investing using speculative prices only.

How high will Bitcoin go in 5 years? Current predictions suggest that Bitcoin could go as high as $100,000 or higher. However, there are no guarantees that this will happen as the price of Bitcoin is affected by several factors. In addition, there’s no way to know how the market will perform in five years.

Who owns the most Bitcoin? Satoshi Nakamoto, the pseudonymous creator of Bitcoin, is believed to own the most bitcoin at around 1.1 million coins spread across various Bitcoin wallet addresses. This is because he not only created BTC but also kickstarted Bitcoin mining.

Cardano founder Charles Hoskinson has hinted at teaming up with Bitcoin Cash (BCH).

On May 4, Hoskinson posted a poll on X asking people what they thought about Cardano (ADA) partnering with Bitcoin Cash to boost its performance using technology like proof of useful work (PoUW), non-interactive proofs of proof-of-work (NIPoPoW), and Ergo technology. 

In Hoskinson’s opinion, such upgrades could make BCH “the fastest and most useful” proof of work chain out there.

Hypothetical Poll:

Would you like to see Bitcoin Cash become a Cardano Partnerchain upgraded with Useful Proof of Work Leios, NiPoPoWs, and Ergo tech, thus being the fastest and most useful proof of work chain ever built?

— Charles Hoskinson (@IOHK_Charles) May 4, 2024 At press time, the poll — which still has six days to run — had been voted on more than 11,800 times. Some 66% of the voters want to see the Bitcoin Cash and Cardano partnership become a reality.

A day before putting up the poll, Hoskinson took to X, asking members of the Bitcoin Cash community to clue him in on what was going on on the development side of BCH and what some of the network’s near-term priorities were.

I'm curious about Bitcoin Cash's roadmap. Can anyone from the Bitcoin Cash community point me to what's happening on the Dev side and some of the near-term priorities?

— Charles Hoskinson (@IOHK_Charles) May 3, 2024 Hoskinson’s public interest in BCH comes on the heels of an altercation with MicroStrategy chairman and Bitcoin (BTC) maximalist Michael Saylor. 

The difference in opinion cropped up after Saylor stated that altcoins like Cardano, Solana (SOL), Ripple (XRP), and BNB will be classified as unregistered securities by the Securities and Exchange Commission (SEC) in the summer. 

Saylor also reportedly claimed that such altcoins will never be accepted by Wall Street in the manner Bitcoin has, following the SEC’s approval of spot Bitcoin ETFs in January.

Hoskinson fired back at Saylor on X, making it clear that Cardano can handle whatever comes its way. With a hint of sarcasm, the Cardano founder suggested Bitcoin maximalists had a tendency to look down on other cryptocurrencies, considering all of them “illegal and a scam.”

Bitcoiners: "Why is Charles attacking Bitcoin? Altcoiners are so Toxic."

Bitcoin Maxi's: "Literally everything but Bitcoin is illegal and a scam" https://t.co/Fd0fYyLWjn

— Charles Hoskinson (@IOHK_Charles) May 3, 2024 Bitcoin Cash came into existence in 2017 following a prolonged and sometimes heated dispute within the Bitcoin community about how to scale the blockchain. 

Bitcoin community members consider the cryptocurrency “digital gold” and emphasize its security and decentralization. They are less worried about the potential high fees and the limitations of using Bitcoin for payments.

On the other hand, supporters of Bitcoin Cash perceive their project primarily as digital cash. They believe BCH can compete effectively in payments without compromising its core properties or principles.

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As the United States approaches its presidential election on Tuesday, November 5, 2024, the Bitcoin market is bracing for significant volatility. In the lead-up to the election, Bitcoin surged to a high of $73,620 on Tuesday, likely reflecting investor optimism over a potential victory for former President Donald Trump. However, by Friday, the BTC price experienced a correction, dipping to $68,830 amid a more cautious, risk-off sentiment as the election looms.

How To Trade Bitcoin During US Election Alex Krüger, an Argentine economist and renowned crypto analyst, shared his strategic framework on how to trade Bitcoin during the US election period via his X account. Krüger outlined scenarios based on possible election outcomes, highlighting that a Trump victory could propel Bitcoin to $90,000 by year-end with a 55% probability, while a win for Vice President Kamala Harris might see Bitcoin settle around $65,000 with a 45% probability. He emphasized that timing will matter: “Expect the move to be fast if Trump wins. Markets rarely waits for laggards on binary events not largely front-run.”

Krüger also noted that the current Bitcoin price, which he anticipated to be in the $65k-68k range leading up to election night, had “overshot” in alignment with the probabilities favoring a Trump victory. He pointed out the uncertainty surrounding the election results, primarily hinging on the Pennsylvania vote count, which could delay the announcement of a clear winner.

“It largely depends on the Pennsylvania count, if it is lopsided or not. It could be as early as Tuesday evening EST, or days later if the count is very tight. The sooner we get clarity, the easier it gets,” Krüger stated.

Regarding market sentiment, Krüger expressed a bullish outlook on equities regardless of the election outcome, unless there is an unexpected “Blue sweep” where Democrats secure both the presidency and congressional majorities. He explained that “equities drag Bitcoin around.”

In his personal investment strategy, Krüger revealed that he is positioned with long spots in Bitcoin and Nvidia, and plans to go long on Solana (SOL) if Trump wins. With this, Krüger is likely betting on a spot Solana Exchange Traded Fund (ETF) approval in the United States.

Krüger’s analysis suggests that the market has partially priced in a Trump victory, anticipating that a Trump administration could bolster the Bitcoin price. “Markets have partially priced a Trump victory in. We (the market, in aggregate) expect Trump to drive crypto prices higher due to increased regulatory clarity and implementation of pro-crypto policies,” the analyst wrote.

Additionally, he expects that Trump’s focus on increased government spending would stimulate short-term economic growth, positively impacting equities—a sector closely linked to Bitcoin’s performance.

Conversely, a Harris victory would likely represent a continuation of existing policies, barring a significant Democratic sweep. Krüger concluded: “Based on betting markets and various election forecasting models, Trump’s probabilities are in the 50% to 63% range. Ergo, it’s “safe” to assume a GOP victory is far from being fully priced in. Such a contested setup is common going into elections. That is why I do not expect ‘sell the news’.”

At press time, BTC traded at $70,402.

Bitcoin price, 1-day chart | Source: BTCUSDT on TradingView.com Featured image created with DALL.E, chart from TradingView.com

AI blockchain Singularity Finance has announced a partnership with Zoth, the leading developer of on-chain tokenized products for institutions. The collaboration has seen the launch of Zoth Tokenized Liquid Notes Prime (ZTLN-P), a tradable RWA backed by U.S. Treasury ETFs and money market funds (MMFs). ZTLN Prime offers institutional investors a secure solution for acquiring treasury assets while generating consistent returns.

ZTLN-P was developed by Cogito, initially under the name of TFUND. Following Cogito’s merger to form Singularity Finance, TFUND will now be issued as ZTLN-P via Cogito’s tokenized fund Ergo Sum SPC. The launch of ZTLN-P will complement Singularity Finance’s product suite, which includes treasury management solutions for individuals and entities, alongside other tokenized funds.

Using the Blackrock-managed iShares ETFs and MMFs, with a focus on U.S. Treasury bills, ZTLN-P delivers low-risk returns with deep liquidity – qualities that are typically in short supply when it comes to DeFi yields.

T-Bills Get the Tokenization Treatment ZTLN-P represents a class of tokenized fund shares managed by established asset managers. This structure offers institutional investors exposure to low-risk, yield-bearing securities.

The launch of ZTLN-P, through a collaboration between Zoth and Singularity Finance, provides a first taste of what the Singularity ecosystem will be bringing to market in the months ahead as its scalable L2 gets up to speed. In addition to supporting AI assets, Singularity Finance will seamlessly integrate RWAs with decentralized infrastructure using secure and compliant onchain infrastructure.

For Singularity Finance, this partnership represents a further step in integrating real-world assets with AI-focused and data-intensive applications. By leveraging its tokenization framework, Singularity Finance aims to eventually facilitate the tokenization of assets tied to the AI economy.

Onchain Treasury Management for Institutional Players One of the reasons why the introduction of ZTLN-P is likely to appeal to institutional investors is on account of the best-in-class treasury management built in courtesy of Singularity Finance combined with Zoth’s sophisticated tokenization framework. This is designed to give investors access to optimized DeFi yields while ensuring strict compliance. As a result, asset managers and institutional investors can efficiently manage their treasury while generating consistent returns.

Zoth CEO Pritam Dutta explains: “ZTLN-P is an industry-driven product that aligns institutional-grade short term investments such as Blackrock iShares Treasury Bond ETF with the efficiency and transparency of blockchain. With Singularity Finance’s one-of-a-kind expertise, this partnership marks the beginning of a new era where DeFi is no longer a speculative market but a legitimate alternative to traditional finance.”

Why RWAs Are on the Rise Until recently, most decentralized finance use cases centered on native crypto assets with inherently volatile prices. The introduction of stable, yield-bearing RWAs onto public blockchains signals the start of a new chapter. Institutional participants are more comfortable engaging with assets they recognize and trust, and the legal clarity provided by regulated structures like Ergo Sum SPC’s mutual fund should further encourage institutional participation.

Instead of relying on complex yield farming schemes or highly volatile crypto assets, institutional players can now turn to tokenized notes representing real-world bonds and treasuries. This structure not only mitigates risk but also opens the door to a larger pool of sophisticated investors who require robust custody and a clear legal framework.

Build It and They Will Come The collaboration between Zoth and Singularity Finance is part of a broader trend for DeFi platforms forming partnerships that marry versatile tokenization frameworks with and strong GTM strategies. As more regulated entities participate, the quality of onchain offerings will improve, further lowering the barriers for institutional capital to enter.

Beyond short-term liquidity and stable yields, these integrations also pave the way for innovative financial instruments. Once the groundwork is laid with simpler, more traditional assets, the same infrastructure can be extended to more experimental territory, including tokenizing AI services, intellectual property, or data streams. By starting with stable, low-risk yields, RWAs can gain credibility and establish best practices that will ultimately help developers and entrepreneurs branch into more complex and data-driven assets.

AI Meets RWAs For Singularity Finance, ZTLN-P marks another milestone in its ambition to tokenize not only RWAs but also the broader AI economy. As AI becomes a key driver of technological innovation, integrating AI-related data, services, and IP into decentralized finance is the next horizon. The synergy between secure, tokenized TradFi instruments and emerging AI-powered solutions could yield a new generation of financial products that provide greater stability and enhanced functionality.

AI-driven models for risk assessment and portfolio optimization could seamlessly interact with tokenized real-world assets, for example, offering algorithmically refined strategies to manage yield and capital allocation. This fusion of AI and tokenized assets highlights how different threads of tech innovation – DeFi, RWA tokenization, and AI – are rapidly coalescing. The future of all this symbiosis is still being mapped out, but the early signs are promising.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

CryptoQuant CEO asserts that China might have already disposed of its PlusToken Bitcoin stash.

There have been several scams in crypto’s decade and a half history, but not many as big as PlusToken, a Ponzi scheme that ran between 2018 and 2019 in China and led to the seizure of over $4 billion in crypto, leaving the government with a 194,000 BTC nest egg, or so some have thought.

China Already Sold? According to Ki Young Ju, CEO of leading crypto analytics platform CryptoQuant, the Chinese government might have disposed of the PlusToken Bitcoin stash almost as soon as it got its hands on it.

In a Thursday, January 23 X post, Young Ju asserted that all 194,000 BTC were sent through mixers and offloaded on exchanges like Huobi in 2019, citing a CryptoQuant chart analyzing the flow of the assets. 

CryptoQuant chart showing flow of PlusToken Bitcoin to mixers and exchanges. Source: Ki Young Ju “There’s no point in using mixers and multiple exchanges if they didn’t sell it,” Young Ju stressed. 

He further supports his view, citing a 2022 Valkyrie report based on data from CryptoQuant and prominent on-chain sleuth “Ergo BTC.”

The report asserted that PlusToken’s Bitcoin stash peaked at an estimated 171,000 BTC around August 2019 but quickly diminished to less than 50,000 BTC by December 2019 amid government selling after the seizure. The authors argue that this dump contributed to a Bitcoin price drop experienced during this period.

Excerpt of Valkyries 2022 Bitcoin report. Source: Valkyrie Specifically, Bitcoin fell from highs above $12,000 in August 2019 to lows near the $6,000 price point in December 2019. 

At the time, Valkyrie described it as the first major indirect liquidity attack on Bitcoin by a government. 

At its peak price, the 194,000 BTC sold by China would have been worth about $2 billion. At the time of writing, however, it is now worth about ten times that figure, about $20.2 billion.

A Positive for Bitcoin Holders? Some members of the crypto community may see the suggestion that China has already disposed of bitcoins seized from the PlusToken Ponzi as a positive development, eliminating any fear of a looming sell-off driven by the Chinese government in the future.

The government, of course, has yet to issue any official statement to this effect.

The government has adopted a crypto ban in 2021. At the time, some had feared that the move could mean doom for Bitcoin as most miners were domiciled in the Asian economic giant. However, The Bitcoin network proved resilient, with its hash rate quickly bouncing back amid an exodus of miners.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Solana (SOL), one of the largest cryptos in terms of market capitalization, has turned bullish in the past few hours. On the other hand, the blockchain’s network activity has been declining after increasing dramatically over the past several months. In the meantime, a new DEX is making headlines with its surge in adoption. Ergo, let’s take a closer look at what’s going on with this new DEX, GRVT.

Solana’s dropping network activity As per Artemis, a popular data analytics platform that provides insights into several blockchains’ network activity, Solana was witnessing a decline in its activity. This was evident from the decline in its daily active addresses in the seven-day time span. During the same time, the blockchain’s daily transactions also dipped—signaling less usage. Apart from that, things in the captured value front also didn’t look good as both Solana’s fees and revenue dropped.

GRVT is now in the limelight! While Solana’s network activity was declining, a newcomer, GRVT, has been making news. GRVT is the world’s first regulated DEX that operates as a self-custodial CEX. By using smart contracts to guarantee self-custody, scalability, and security, the company hopes to make it possible for anybody to purchase, sell, trade, and invest in financial items. In only a month since its mainnet alpha launch, the DEX has gained much traction. GRVT’s daily active traders (DAT) are among the highest for a DEX’s first 30 days, with recent numbers crossing 1,000—a major milestone. Additionally, they have onboarded 33,266 KYCed users to date—more than many DEXes achieve in their lifetime.

In 30 days, GRVT traded a total of $1.3 billion. The platform’s daily volume already surpasses many top DEXs in their first month. Hong Yea, co-founder and CEO of GRVT mentioned, “We’ve shipped over 6 new features including configurable leverage, cross-chain bridging, PnL tracking, and more. GRVT improves daily.”

To sum things up! While Solana faces declining activity, GRVT’s explosive growth and innovation highlight its potential to reshape the DEX landscape. With impressive achievements in as little as 30 days, GRVT is drawing interest from the cryptocurrency world. This points to a bright future for decentralized trading that is regulated. Meanwhile, it’s also worth noting that Solana bulls stepped up their game in the last 24 hours by pushing the token’s price up by 5%. At the time of writing, the token is trading at $237 with a market capitalization of over $115 billion.

Top 3 Cryptos That Can Replicate Cardano’s (ADA) Latest Price Pump

Cardano founder Charles Hoskinson has openly supported Ergo (ERG) following news of its potential delisting from HTX. 

Earlier this week, Ergo’s official X account reported that its native token was unjustly being delisted from HTX for failing to meet liquidity requirements.

It emphasized that the listing agreement previously signed with HTX did not include minimum volume requirements. However, Ergo claimed HTX added ERG to its ST list without informing the Ergo team of any policy changes or providing adequate response time.

The Ergo team stated that it discovered HTX’s delisting plan a month after the official notification was expected. Upon learning of the move, Ergo said it quickly made the necessary adjustments to comply with the exchange’s liquidity requirements. Despite this, it claims the exchange still intends to proceed with the delisting.

Cardano Founder Reacts Interestingly, Cardano’s founder, Charles Hoskinson, joined several crypto stakeholders to respond to Ergo’s public outcry, advocating for increased liquidity on decentralized exchanges.

In his X post, Hoskinson stated that he is familiar with how centralized exchanges treat smaller crypto projects. He emphasized that decentralization is the only way small projects can end the mistreatment from centralized trading platforms.

Meanwhile, Hoskinson praised Ergo, describing it as a spiritual successor to Bitcoin, the world’s largest cryptocurrency by market cap. He stressed that the project deserves more respect and love than it currently receives.

Furthermore, Hoskinson suggested that Ergo could thrive as a partner chain within the Cardano ecosystem. He noted that it is challenging for the Cardano team to provide support while Ergo remains a standalone Layer-1 (L1) project.

Is Something Big Coming for ERG? While Ergo has yet to comment on the proposal, Edge Capitalism highlighted the significance of Hoskinson’s recent endorsement of ERG. Edge Capitalism finds it surprising that Hoskinson is commenting on a project like Ergo rather than established competitors such as Solana or Ethereum.

They view Hoskinson’s remarks as a strong endorsement of Ergo’s decentralized model and technology, suggesting that such high-profile validation could pave the way for significant development for ERG in the near future.

This has just happened a few hours ago👇

Yes, $ADA Charles Hoskinson from #Cardano is clearly explaining the descentralized nature and technology of #ERGO 🔥🔥🔥

Yes. Of #ERGO not #SOL or #ETH

You better be prepared. Something big can happen any time with $ERG 👀 pic.twitter.com/xSOVDPRyvJ

— EDGE Capitalism (@EDGECapitalism) September 18, 2025

ERG Still on HTX In the meantime, HTX Global has yet to delist ERG. Of the $351,000 total 24-hour trading volume for ERG, $42,561 was transacted on HTX Global.

The token, which plunged to a 30-day low of $0.7712 yesterday, is currently changing hands at $0.8258. It has surged 4.58% over the past 24 hours, but is down 3.67% in the past week. With a valuation of $67.71 million, ERG ranks as the 492nd biggest cryptocurrency by market cap.

Although Ergo is a separate L1 blockchain, it is compatible with the Cardano network. Like Cardano, Ergo uses the same transaction model, allowing decentralized applications to run on both blockchains. Last year, 624,000 ERG coins, or 0.76% of its 81.96 million circulating supply, moved to the Cardano network.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.