Crypto community begins Bitcoin halving countdown as milestone date nears

The crypto assemblage and galore of its astir high-profile players person started to displacement their absorption toward the Bitcoin halving, a 4-year cyclic lawsuit that cuts the Bitcoin marketplace proviso successful half. With the adjacent halving lawsuit scheduled for April 2024, the Bitcoin mining reward volition trim from the existent 6.25 BTC per artifact to 3.125 BTC per block.

Binance CEO Chang Peng Zhao took to Twitter to acceptable the countdown for the adjacent halving successful an X (formerly Twitter) station to punctual everyone that the adjacent BTC halving lawsuit is lone 135 days away.

#Bitcoin halving soon. pic.twitter.com/xp4mWyMKkD

Historically, Bitcoin halving is besides linked to bullish momentum successful BTC terms owing to the supply-demand dynamics wherever the halving of the proviso amid increasing request pushes the BTC terms to caller highs conscionable astir the halving time.

During the past bull cycle, which started successful 2020 with the halving successful May 2020, the BTC terms traded nether $10,000 astir 2 months earlier the halving period. However, the pre-halving bullish momentum saw BTC terms surpass the erstwhile cycle’s all-time precocious of astir $17,000. After halving, the BTC terms broke into parabolic momentum and touched a caller all-time precocious of implicit $69,0000.

The method analysts with the 'X' illustration sanction 'Rekt Capital' besides took to Twitter to elaborate connected the antithetic phases of a BTC bull cycle. The analysts divided the timeline into pre-halving and post-halving events, wherever they pointed retired that astir 60 days earlier the halving, a pre-halving rally tends to hap arsenic investors thin to "Buy the Hype" to "Sell the News.”

However, this euphoric terms surge successful the pre-halving play is followed by a retrace astir the clip of the existent halving. In 2016, the pre-halving retrace was -38% portion this pre-halving retrace was -20%.

The pre-halving retrace is followed by a multi-month re-accumulation signifier erstwhile the BTC terms starts to accumulate further. Many investors get shaken retired successful this signifier owed to boredom, impatience and disappointment with the deficiency of large results successful their BTC concern successful the contiguous aftermath of the halving.

Bitcoin halving rhythm phases. Source:X

The accumulation signifier is followed by the parabolic surge, successful which Bitcoin breaks retired from the re-accumulation country to interaction caller highs. During this phase, Bitcoin experiences accelerated maturation connected its mode to caller each clip highs.