Why might the 2024 Bitcoin halving be different from the previous one?

The impact of the Bitcoin halving on cryptocurrency prices is often overestimated, and the next halving, scheduled for April 2024, may unfold differently than the previous one, according to a well-known analyst.

The halving event, which occurs every four years, halves the rate of creation of new Bitcoins and is generally considered one of the main catalysts for Bitcoin’s biggest bullish moves.

Despite the bullish narrative surrounding the halving, the event itself does not guarantee a rise in the price of Bitcoin.

If the decline in the supply of new bitcoins is not accompanied by significant demand, prices are unlikely to rise significantly.

Furthermore, the halving is a completely predictable event: this means that all market participants know in advance when it will happen, and thus their current price may reflect the impact of the halving before it happens.

“The things we most expect don’t usually happen,” Bloomberg analyst Mike McGlone said, commenting on the long-awaited event.

He continued: “This is what worries me. There is complete consensus.”

Furthermore, each time the halving occurs, its impact on the new supply of Bitcoin decreases; Over time, its influence will eventually become irrelevant. Changes in demand, not supply, have become the dominant factor affecting Bitcoin’s price.

So how will the upcoming Bitcoin halving impact the cryptocurrency market? And if not the halving, what is the catalyst behind Bitcoin’s cyclical upward moves? To find out, check out the latest Cointelegraph report on our YouTube channel and don’t forget to subscribe!

Explanation: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information provided here should not be considered as financial advice or investment recommendation. All investments and business transactions involve risks and it is every person’s responsibility to conduct due research before making an investment decision.

Investments in crypto assets are not regulated. It may not be suitable for retail investors and the entire amount invested may be lost. The services or products provided are not directed at or available to investors in Spain.