BitMEX Research, an analytics arm of global cryptocurrency exchange BitMEX, explains the specifics of the upcoming BTC halving.
Fourth Bitcoin (BTC) halving will be special: BitMEX
Unlike the first three halvings of Bitcoin (BTC), the upcoming event will be much closer to its difficulty adjustment. Namely, BTC emission halvening will happen two-thirds of the way through a difficulty adjustment period, BitMEX Research announced in a tweet.
As a reminder, this 4th halving will occur two thirds of the way through a difficulty adjustment period https://t.co/ImMO3mps7e
— BitMEX Research (@BitMEXResearch) April 19, 2024
The block reward halves every 210,000 blocks, while the mining difficulty changes every 2,016 blocks, as noticed by researchers.
As such, every sixth halving will coincide with the adjustment of Bitcoin (BTC) mining difficulty. For the first time ever, this will happen in 2032.
The fourth Bitcoin (BTC) halving event is expected to happen in 10 hours. Per the latest estimations, it will take place on April 20, 2024, at about 2:34 a.m (UTC).
Bitwise CEO foresees “impactful” 2024 halving
The halvings (or halvenings) of the Bitcoin (BTC) network reduce the emission of the largest cryptocurrency by 50% once every four years.
According to some analysts and Bitcoin (BTC) enthusiasts, this is intrepreted as a major bullish catalyst for the BTC price as it increases its scarcity.
I think people are dramatically underestimating the halving.
The market has never priced it in before, and won’t have priced it in this time.
For the prior 3 halvings, after investors spent months discussing if it was priced in, here’s what happened in the 12-months after…
— Hunter Horsley (@HHorsley) April 19, 2024
Bitwise CEO Hunter Horsley stresses that despite the effects of halving plummeting as the BTC network matures, the Hotly anticipated event will be impactful for its tokenomics.
