Bitcoin and other cryptocurrencies are falling 📉. It's not just a regular drop. It's because of something called the Pre-BTC Halving Effect.
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Here's some info:
1st Bitcoin Halving:
Date: Nov 28, 2012
Reward cut: 50 BTC to 25 BTC
Total supply: About 10.5 million
Price before: Around $11 per BTC
2nd Bitcoin Halving:
Date: July 9, 2016
Reward cut: 25 BTC to 12.5 BTC
Total supply: About 15.75 million
Price before: Around $657 per BTC
3rd Bitcoin Halving:
Date: May 11, 2020
Reward cut: 12.5 BTC to 6.25 BTC
Total supply: About 18.375 million
Price before: Around $8,600 per BTC
4th Bitcoin Halving (Expected):
Date: April 19, 2024
Reward cut: Expected from 6.25 BTC to 3.125 BTC
Total supply (Estimated): About 19.6875 million
Price before: Can't predict accurately.
Confused? Let me explain simply.
How Bitcoin works:
Unlike newer coins like ETH, where developers can make as many coins as they want, with BTC you have to mine it. Even the Bitcoin founder mined it.
More blocks mean mining gets harder. Miners confirm transactions. The founder knew mining would get easier with time, so he made a rule: rewards halve eventually, limiting supply to 21 million BTC lifetime.
