Brief discussion and concept of Halving
Assalamu Alaikum
If you don't know what Bitcoin halving is, let me tell you again, what Bitcoin halving is and how it works. Bitcoin has a maximum supply.
Here you can see that the maximum supply is 21 million bitcoins. The creator of Bitcoin has created a mechanism to halve the supply. This means that the coins that are added to the market will be halved. You can see that already 93% of the coins are in the market. Miners will bring the remaining coins. By mining here, they used to get 6.25 bitcoins for each block. After the halving that happened in 2020, it became 6.25 bitcoins from 12.5 bitcoins. The halving has been halved from 6.25 through that halving, that means 3.12 bitcoins will come into the market from now on. So fundamentally when bitcoin halving occurs, new extra bitcoins stop coming into the market and extra bitcoins into the market. can't come then Bitcoin supply decreases and when supply decreases we know the price of one thing increases. As a result the price of Bitcoin increases. Even if there is no reason for Bitcoin price to increase then Bitcoin price increases only for this halving. Because every four years After a new halving, the amount of bitcoins coming into the market is halved and half means the huge amount.
If you look at how many etfs there are currently. For example: Blackrock, Grayscale, Fidelity, ARKB, BITB BTCO, all of them have a combined bitcoin equivalent of 54 billion dollars. Now that this halving of bitcoin has happened, due to this halving, the market will be affected in the next 4 years. 700k - 800k bitcoins will not come into the market or supply of 700k - 800k bitcoins will stop here. But it is very big amount. And if bitcoin ETF demand from institutions is same then bitcoin can touch 150k - 200k dollars within this year.
Because if you look at the previous halvings, the market would have been 50% down from the all-time high or 60% 70% down, then the market would have gone up slowly. But during this halving, the market has crossed the all-time high so since the halving. If we see a 200% jump here, the Bitcoin price will be $200k here.
Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.
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You have wonderfully explained the concept of Bitcoin halving well, I believe from this article of yours any who didn't get it before will have gotten it now. Bitcoin is poised to do great.
I am very surprised to get this information from you, Blackrock, Grayscale, Fidelity, ARKB, BITB BTCO, all of them bought 54 billion dollars worth of Bitcoin! This is very good news!
Hope bitcoin price will increase manifold after halving. Nice description about halving. Thank you for that.
Wa Alaikum Assalam! It's terrific to hear you're succeeding, Alhamdulillah. Bitcoin halving is such a vital occasion in the cryptocurrency globe, influencing its supply as well as eventually its worth. With the current halving the marketplace characteristics are moving, as well as institutional rate of interest might drive Bitcoin rates to unmatched degrees possibly getting to $150k - $200k this year.