Bitcoin halving is one if not the most important event that happens within the cryptoverse. What makes it most significant is that it happens every four years. You wouldn't want to miss the moment, not even talking about the bullish record it holds. A lot are excited that something big will soon happen within four months of the year with the bitcoin ETF still at the corner. What do you have to say? Will it play out as usual?.
We've seen how the last three halvings surge the price of bitcoin. This is no investment advice I must confess, it would be much better if you invested for the love of it. We all know everyone cannot benefit from the surge, the late comers will be leveraged. The volatility of the cryptoverse has continued to make unending ups and downs. Perhaps because the crypto market is traditionally small or just full of short lived gains investors. I have written a post to discuss this,volatile investors causes volatile crypto markets, do well to check it out, your comments will be well appreciated. That said, let's move to the talk of the day or perhaps the talk till April.
Looking at bitcoin halving histories
We all know about the introduction of bitcoin in 2009 with a blockchain reward of 50btc, I guess early miners were enjoying a gold rush. Although the value of bitcoin was not this skyrocketing, those who knew its true value will undoubtedly have made fortune as early miners. You know by that time only a handful or less had confidence in this next big thing which has surprised a lot. I must say, sometimes I feel I should have had knowledge about the cryptoverse from such an early state, would I have trusted the system?
One thing is having knowledge, another is to have the needed understanding, this is where confidence is always drawn. We can't live in the past, but we can show determination in the future. I must say the future of cryptoverse has grown beyond bitcoin. We have seen several Altcoins also breaking records. One of the tokens to watch for in the near future is hive and Leo. I am not just saying because I'm a member of the hive or inleo front end, the way it is designed is remarkable to be a big thing soon.
November 28, 2012; the first halving
The first four years halving event came true in November of 2012. By this time still, very few knew what it was really about. It was just like a couple of internet gurus doing their thing. Bitcoin reward was split by 50%, dropping the block reward from an initial 50 Btc to 25 Btc, not bad I guess you know bitcoin had grown to roughly $12.30 dollars on halving day. Who even knew what was worth a few cents could grow this far and this fast. Within the space of 3,600 hours which is within 5 months, the price of bitcoin gained a massive surge with over 1,030 percent market rise pushing the price up to $127 dollars.
Wow! I must say, first impressions really matter. You think this was a pinnacle achievement? What then will you say 365 days later from its first halving? When bitcoin price was worth a little above $1000 dollars creating a market surge of over 8,100 percent within the halving calendar and close to 790 percent rise from $127 dollars which is within the next 7 months. You can see why everyone is getting the needed tools if I may say ready for the next halving. It started as a big thing and has always been big. Could this have been because investors were flocking in unaware of the entire system? You know, them just feeling it's a gold rush and the fear of missing out (FOMO) helped play a crucial part to increase the market. How about the next halving?
July 9, 2016; second bitcoin halving
The market did not stay high till the next halving anyway. You know the volatility of the crypto space is one thing I guess needs to be kept in check if we want to beat competitors to near zero. Some adopted the system as the future of finance, others were merely there for the gains. In the process we saw that gradual drop as Bitcoin struggled to maintain its earlier impact. The second halving in 2016 kept bitcoin at roughly $650 dollars, calculating this from its peak twelve months later of 2012 we could see close to 154 percent decrease.
Not bad, I must say, 8100 percent rise against 154 percent was good business to bitcoin. The next split brought the block reward down by another 50% which brought the miner reward to 12.5 Btc. The 3,600 hours later calculation which is 5 months later from july, 2016 brought bitcoin close to $760 dollar market price, roughly 116 percent increase from $650 dollars but still slacking by over 131 percent as compared to when it reached the over $1000 dollar mark after its first halving. There was positive light within the 365 days calendar mark after the halving which saw bitcoin hit close to $2,520 dollars, a 387 percent increment from its first 365 days halving mark. Was this also out of FOMO or can one say the market had set itself. Does the market even have the privilege to set itself? What makes the market is it the market itself or the people?
To conclude let me add, we will continue from part two of this article tomorrow. Just want to say the halving so far has brought positive results to bitcoin and cryptoverse in entirety. There are two wishes that drive the market, it will either be a bear or bull. I know there were so many market conditions that made this a positive fruition. Do well to do your proper research before climbing into the 'assumed certain bull run'.
We all know this is the market, and past records can be annulled. Inasmuch as I will always wish the positive for our visioneer coins, I wouldn't want true crypto enthusiasts to be the bait for seasoned investors who come here only once in a while to sieve gains. Stay tuned for the continuation article. Anyway, your comments and contributions will be well entertained, what do you say about the whole halving process?.