Why 2024’s Bitcoin Halves May Play Out Differently Than Last Time

The impact of Bitcoin's halving on the crypto's value is often speculated, and the next halving, set for April 2024, could play out differently than previous ones, a leading analyst has said.

The halving event, which takes place every four years, halves the amount of new bitcoins created and is generally considered one of the main factors behind Bitcoin's biggest upward moves.

Despite the bullish narrative surrounding the halving, the event itself does not justify Bitcoin's appreciation.

If the reduced supply of new Bitcoin is not accompanied by significant demand, the price is unlikely to increase.

Also, a halving is a completely predictable event, meaning that all market participants know in advance when it will happen, so current prices can reflect the impact of the halving before it happens.

“The things we most expect generally don't happen,” Bloomberg analyst Mike Maglon said of the highly anticipated event.

“And that's what worries me. It is a complete consensus,” he continued.

As well as halving each time, the impact on the new supply of Bitcoin is reduced; Over time, the effect will eventually become irrelevant. Therefore, changes in demand rather than supply are becoming the main factors affecting the price of Bitcoin.

So, how will the next Bitcoin halving affect the crypto market? And, if not half, what are the reasons behind Bitcoin's cyclical upswings? Check out our latest Cointelegraph report on our YouTube channel to find out and don't forget to subscribe!