Summary
TLDR: The anticipation for Bitcoin’s 2024 halving event is high, as it has historically led to significant price increases. The event will make Bitcoin even scarcer, potentially leading to a price increase of around 155.79%. However, miners may struggle due to reduced rewards, with only the most efficient miners surviving. The 2024 halving will bring big changes to the crypto landscape, so buckle up for the ride.
Key Points
1. Bitcoin’s scarcity, with its strictly limited release into the market, is a major reason why people call it “digital gold” – as both these assets have that “hard to come by” quality.
2. After each halving, Bitcoin’s price has skyrocketed, with significant growth seen in the market cap and peak price following past halving events.
3. The 2024 halving will transform the mining landscape into a scene reminiscent of ‘The Hunger Games,’ where only the strongest miners with the most efficient technology and access to affordable energy will survive.