There has been a lot of news about Bitcoin halving and how it would affect Altcoins.
Crypto enthusiasts anticipate it to the extent that they’ve made theories and predictions about the supposed outcome of the Bitcoin halving. Bitcoin halving is on April 19, 2024. Read through this article to know how Altcoins will respond to the halving.
Exploring Altcoin Trends: Past and Future Halvings
Many crypto enthusiasts are filling their bags with Altcoin, expecting them to pump during the halving, while others are selling theirs off already.
Let’s look at the other halving and their effect on Altcoins to know what to expect from this halving. The halving takes place after every fourth year. Let’s look at Altcoin’s performance from 2016; note that the first halving was in 2012.
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2016 Halving
During the 2016 halving, Bitcoin pumped 3,000%. After the 2016 halving, altcoins took a downturn for six good months, and that was because they weren’t popular at the time.
In 2017, Altcoins started gaining traction, leading to massive growth. Altcoins didn’t necessarily experience a price surge during the halving but after it.
#Altcoins market cap broke through an important trendline like in 2016 and 2019 📈📈
Our prediction is: we will see a decent altcoin run towards #Bitcoin halving 🚀🚀 #Ethereum #Litecoin #Matic #Cardano #crypto #cryptocurrency pic.twitter.com/1hk69aS7rp
— BINANCE SPOT AND FUTURES SIGNALS (@binancespotTeam) July 30, 2023
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2020 Halving
Before the third halving on October 5, 2020, the Altcoin market was $68 billion. A year after the halving, by October 11, 2021, it had soared to $1.7 trillion. That’s a clear 25x in 18 months.
In 2022, Altcoin experienced growth until the end of the year. Towards the end of 2022, crypto became more popular, with many people hopping into it. The adoption of crypto led to an increase in Altcoin’s performance. Altcoins depreciated a bit but still bounced back after a while because people entered the crypto space. And about the halving we are about to experience.
Can you accumulate more #BTC by mining or buying spot?🤔
Here's a case study using the 2020 Halving Epoch.🧵👇
For this case study, we have Person A, who is mining Bitcoin⛏️
and we have Person B, who is buying spot Bitcoin
This simulation begins on 5/12/2020, the day after… pic.twitter.com/dX6Yoyw5HU
— Blockware Solutions (@BlockwareTeam) April 8, 2024
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2024 Halving
As of April 11, 2024, the Altcoin market cap is $1.2 trillion, and we are some days away from halving. Altcoins are ready to ride the wave. You need to know what’s in store for you.
We are currently in the pre-halving phase, as in 2016 and 2020, which caused a spike in the Altcoin market cap due to Bitcoin’s halving. Because the result of the halving on Altcoin lasts beyond a year, we can experience this same growth on Altcoin once again.
The most popular altcoins from the last halving cycle have failed to surpass their previous all-time high (ATH) prices from the last cycle. #Bitcoin is the only major asset to do so.
In my opinion, too many altcoin traders are taking it for granted that alts will outperform $BTC… pic.twitter.com/kKF6unAULz
— Mark Harvey (@thepowerfulHRV) April 8, 2024
The crypto space isn’t predictable, so keeping your tabs open is safe. Look for buying opportunities and sell when they arise. You can review our previous blog posts to prepare for the next bull cycle, which begins on April 19th, 2024.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
