The Bitcoin halving is predicted to occur in April 2024, which will have a certain impact on the entire crypto market. But the most concerning one is the impact on Bitcoin itself. Bitcoin halving refers to the halving of rewards for mining new blocks. This means that miners receive 50% less Bitcoin when verifying transactions, which will also affect Bitcoin. The trading price of Bitcoin, then how much will one Bitcoin cost when it is halved in 2024? Will Bitcoin skyrocket after the 2024 halving, as predicted by insiders? According to the predictions of analysts in the circle, it is likely to rise. The estimated price increase is to US$50,000. The editor of the currency circle will tell you in detail below.

## How much will one Bitcoin halve in 2024?

According to the predictions of analysts in the circle, the price of one Bitcoin halving in 2024 will be around US$50,000. However, this is only an analyst's prediction. It does not mean that it will definitely rise to this price. Investors still have to analyze it based on the current market situation.

The last Bitcoin halving was on May 11, 2020, when the block reward dropped from 12.5 new BTC to 6.25 new Bitcoin. The supply crunch provided a bullish scenario for the asset, when the price of BTC surged from $6,877.62 on April 11, a month before the halving, to $8,821 when the halving occurred. Despite the volatility, the price continued to rise over the next year, reaching $49,504 on May 11, 2021.

It’s unclear how the next halving will affect Bitcoin’s price. Many cryptocurrency analysts believe that prices will follow a similar pattern to the previous three halvings, rising after the event as the supply of new coins is limited. Analysts predict that the Bitcoin halving will spark optimism.

Any price increase will depend on the demand for Bitcoin during the halving process. The market has matured significantly since the last halving in 2020, and there are now more established cryptocurrencies vying for users, so demand will not necessarily increase and may even remain the same.

## Will Bitcoin skyrocket after the 2024 halving?

It is unlikely that Bitcoin will skyrocket after its halving in 2024, but it is more likely that the price will rise. Halving, which cuts Bitcoin mining rewards in half, is part of a mechanism that limits the total supply of Bitcoin to 21 million. It occurs approximately every four years, with the next time around April 2024. After the past three halvings, Bitcoin hit new highs each time.

Industry Research Analyst Jamie Douglas
Coutts said that based on previous cycles, about 50% of the upcoming halving is currently reflected in market quotes. Coutts predicted that Bitcoin could reach $50,000 by April 2024. “Bitcoin’s cycle bottom was around 12-18 months before the halving. The cycle structure this time looks similar to the past, although many things have changed. Although the network is very strong, Bitcoin has never experienced a long-term Severe economic contraction," he said.

All the above content is the answer to the two questions: How much will one Bitcoin halve in 2024? And will the price of Bitcoin skyrocket after the 2024 halving? The Bitcoin halving event is considered a key milestone in the Bitcoin asset cycle, mainly because The halving helps offset Bitcoin’s inflation and preserves the asset’s scarcity. Regarding the price prediction after the Bitcoin halving, the circle is basically optimistic. However, it should be noted that the Bitcoin market itself is full of uncertainty, and the prediction may not necessarily happen. Therefore, investors should analyze based on the current market situation.