Well-known data provider Glassnode announced on Twitter and X that it has been able to determine how much time remains until the Bitcoin halving event that is set for May–April 2024.
The bitcoin community has previously estimated the event’s potential month of occurrence very well. Glassnode has, nonetheless, been able to marginally improve the accuracy of these computations.
Here’s when next Bitcoin halvening will occur
Using the Bitcoin average interval over a 14-day period, Glassnode tweeted that it was able to calculate the estimated number of days remaining before the fourth Bitcoin halving occurs next year. They estimate that the next fall in Bitcoin miner rewards will occur on April 23, or around 130 days from now.
https://x.com/glassnode/status/1735660080656249001?s=20
With the impending halving of Bitcoin, the cryptocurrency world has high expectations for the price of the cryptocurrency. The flagship cryptocurrency has already seen enormous growth following each of the three halvings. Following the most recent one in 2020, there was a six-fold gain. In April 2021, Bitcoin hit an all-time high of $65,000, and in October of the same year, it reached an even higher level of $69,000. Since the quantity of Bitcoin that is coined (earned by miners) decreases by half every four years, halving is a planned approach to make the cryptocurrency more deflationary.
However, many analysts point out that even while the halving had an effect, the U.S. Federal Reserve’s monetary policies in 2020—when the epidemic broke out and the country began creating trillions of dollars out of thin air—was a major factor in Bitcoin’s rise to $69,000.
More than six trillion dollars were produced and given to families as “survival checks” in 2020 alone. Banks and significant American firms were also helped out.
In addition, Elon Musk shocked everyone in 2021 by declaring that Tesla had bought $1.5 billion worth of Bitcoin and included it in its financial sheet. In addition, the firm started taking Bitcoin payments for its electric vehicles. Nonetheless, Musk outlawed Bitcoin payments in April due to contentious worries that PoW mining would have a negative environmental impact.
Tesla kept holding Bitcoin, but as of right now, the business has liquidated the majority of its holdings, leaving less than 10,000 BTC on its balance sheet.
