The crypto community and plenty of of its most high-profile gamers have began shifting focus towards the Bitcoin halving, an occasion that happens each 4 years and cuts the\u00a0market provide of recent Bitcoin (BTC<\/a>)\u00a0in half. <\/p>\n

At the subsequent halving occasion scheduled for April 2024, the Bitcoin mining reward will scale back from the present 6.25 BTC per block to three.125 BTC per block. <\/p>\n

Binance CEO Changpeng Zhao took to Twitter to set the countdown for the subsequent halving in an X (previously Twitter) put up to remind everybody that the subsequent BTC halving occasion is simply 135 days away.<\/p>\n

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#Bitcoin<\/a> halving quickly. pic.twitter.com\/xp4mWyMKkD<\/a><\/p>\n

\u2014 CZ Binance (@cz_binance) November 19, 2023<\/a><\/p><\/blockquote>\n

Historically, the Bitcoin halving is linked to bullish momentum for the BTC worth as a result of provide and demand dynamics. The halving of recent provide amid rising demand normally pushes the BTC worth to new highs within the months following the halving.<\/p>\n

Two months previous to the final halving occasion in May 2020, the Bitcoin worth was buying and selling at lower than $10,000. As the occasion drew nearer, bullish momentum noticed BTC\u2019s worth surpass the earlier cycle\u2019s all-time excessive of round $17,000. After the halving, the BTC worth broke into parabolic momentum and created an all-time excessive of just about $69,000.<\/p>\n

Popular dealer and analyst Rekt Capital additionally took to X to elaborate on the completely different phases of a BTC bull cycle. The analyst divided the timeline into pre-halving and post-halving occasions, highlighting that roughly 60 days earlier than the halving, a pre-halving rally tends to happen as traders are inclined to \u201cBuy the Hype\u201d to \u201cSell the News.\u201d<\/p>\n

However, the euphoric worth surge within the pre-halving interval is normally adopted by a retracement across the time of the particular halving. In 2016, the pre-halving retracement was 38%, whereas the 2020 pre-halving retracement was 20%.<\/p>\n

The pre-halving pullback is usually adopted by a multi-month reaccumulation part throughout which the BTC worth rises and falls, with little positive aspects throughout a interval of stagnation. Many traders get shaken out on this stage as a result of boredom, impatience, and disappointment with their BTC funding\u2019s lack of efficiency within the halving\u2019s fast aftermath.<\/p>\n