History Says This Is What Happens After Bitcoin Halving
April is a big month for the crypto world. The next Bitcoin (CRYPTO: BTC) halving event is happening later this month, and that could lead to a rally in the price of the world's leading cryptocurrency. After already hitting new highs earlier this year, how much higher could Bitcoin go this year? Below, I'll look at how it has performed after previous halving events and what investors should expect.
In a halving event, the rewards Bitcoin miners receive are cut in half. This is to control the supply of Bitcoin and to ensure its scarcity; the total supply is to not exceed 21 million Bitcoins. Scarcity helps to keep the digital coin valuable. Halving events are expected to take place every four years; Bitcoin halved in 2020, 2016, and 2012. Here's a look at what happened to the price of Bitcoin after past halving events.
Data sources: Google Finance, Investing.com
Source Fool.com
