Bitcoin halving, which is expected to occur on April 19, 2024, may cause an altcoin rally. History shows a significant decrease in Bitcoin's dominance post-halving and generally an increase in altcoin market values. Bitcoin's halving could lead to a 50% reduction in mining rewards, making mining more difficult and potentially reducing Bitcoin's market power.
This allows altcoins to experience increased capital rotation. Following the mining reward adjustments in 2016 and 2020, there was a significant increase in altcoin market caps a few months after these halving events.
As the market scenario changes, some altcoins may attract significant attention and investment. Tokens such as Sandbox (SAND), Chiliz (CHZ), Mina (MINA) and EOS (EOS) are expected to experience significant growth in 2024. These cryptocurrencies are gaining popularity not only for speculative purposes, but also due to their specific use in areas such as gaming, NFTs, and metaverse. This attracts both experienced people interested in crypto investments and newcomers to this field of finance. The changing nature of the crypto world, thanks to Bitcoin's halving, shows that these altcoins will not only benefit from the redistribution of money, but may set new norms in their respective industries. This could be an exciting year for altcoin enthusiasts.
