Bitcoin barely budged after halving

Shortly after midnight UTC Saturday morning, the oldest and largest blockchain entered block 840,000, triggering the latest Bitcoin halving from April 20 (12:10 a.m. on April 20). Despite all the hype and anticipation, Bitcoin’s price has remained stable.

At the time of the key block minting, BTC was trading at $63,976, up 1% over the past 24 hours. Half an hour later, it was essentially unchanged at $63,873.

The final impact of the long-planned and closely watched event comes after a roller-coaster few days — including a sharp drop to $59,573 on a major exchange late yesterday before recovering to over $65,000 a few hours later — and a largely frustrating past month.

Just yesterday, JPMorgan said, “We do not expect the Bitcoin price to rise after the halving as it is already priced in.” The firm was at least half right.

The milestone, which cuts the reward bitcoin miners receive for each new block they generate in half, is designed to ease block creation and directly impacts mining companies, mining pools and scrappy independent miners. But cryptocurrency observers are also invested in the outcome, focusing on the potential impact the event will have on BTC prices.

Bitcoin hit an all-time high last month, topping $73,000, part of a widely hailed bull run that some say was unusually strong despite coming at an inopportune time. But the coin soon fell, a trend blamed on factors including dismal U.S. economic indicators and rising unrest in the Middle East.

On the eve of the halving, numerous questions linger.

Analysts debate whether the recent bull run is over, and environmentalists ask whether the reduction in rewards will lead to less mining, improving environmental conditions.

Is the halving already priced in? Will the value of bitcoin fall after this moment, as it usually does, but eventually soar to new heights? Maybe, experts say.

Less than an hour has passed since the Bitcoin halving, and the near- and long-term price impact of the event is yet to be seen.For now, the cryptocurrency community is largely jubilant and hopeful as mainstream financial markets enjoy a weekend break.

The impact on Bitcoin miners may be even more pronounced. After all, the initial reward for generating a block is 50 Bitcoins. Before the most recent halving, the bonus was 6.25 BTC. Over the next four years, or 210,000 blocks, the reward will be 3.125 BTC. A lot can happen in a day, and looking ahead to 2028, everything will happen.

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