How Will Altcoins React to Bitcoin Halving? Expert Commentary!
The Bitcoin halving that the crypto community has been eagerly awaiting will take place on April 19, 2024. Enthusiasts continue to theorize and predict the outcome of the Bitcoin halving. However, the main curiosity is how altcoins will react to the halving. Crypto expert Tari from the Altcoinbuzz team takes a look at this issue.
Bitcoin halving events and the impact on altcoins
Many crypto enthusiasts are filling their bags with altcoins, waiting for them to get pumped during the halving. However, someone else is already selling. To know what to expect from this halving, we need to look at other halvings and their impact on altcoins. Halving happens after every four years. Let’s look at the performance of the altcoin in 2016; remember that the first halving was in 2012.
Bitcoin 2016 halving
BTC gained 3,000% during Bitcoin’s halving in 2016. After the halving in 2016, altcoins fell for six months. This was because they were not popular at the time. In 2017, Altcoins started to gain traction and led to tremendous growth. Altcoins experienced a price increase not during the halving but afterwards.
Bitcoin 2020 halving
The altcoin market was $68 billion before the third halving on October 5, 2020. A year after the halving, on October 11, 2021, it rose to $1.7 trillion. That’s a net 25-fold increase in 18 months. In 2022, altcoins experienced growth until the end of the year. Towards the end of 2022, crypto became more popular and many people jumped on it. The adoption of crypto led to an increase in the performance of altcoins. Altcoins lost some value but still bounced back after a while. Because people entered the crypto space.
Bitcoin 2024 halving
And let’s look at the halving we are about to experience. As of April 11, 2024, the Altcoin market cap is $1.2 trillion and the halving event is just days away. Altcoins are ready to ride the wave. You need to know what to expect. We are currently in the pre-halving phase, which causes a surge in altcoin market capitalization due to Bitcoin halving, as happened in 2016 and 2020. Since the result of the halving in altcoins lasts for more than a year, it is possible that we will experience the same growth in the altcoin market once again.
Meanwhile, the crypto space is unpredictable. It is therefore safe to keep your seatbelts fastened. Watch for buying opportunities and sell when they arise. Move cautiously to prepare for the next bull cycle. It will all start on April 19, 2024.
The opinions and forecasts in the article are those of the expert and are not investment advice. Cryptocoin.com we strongly recommend that you do your own research before investing.