Excell with Options: Bitcoin Halving on the Horizon
Report highlights
What's next for Bitcoin with the next halving on the horizon? In this week's Excell with Options, Rich Excell breaks down what he sees in the Bitcoin marketplace as it moves towards the estimated halving around April 19. He shows what has happened with past halving events, how the Bitcoin market has changed with the addition of ETFs and current technicals for how the market may be positioned for the event.
Topic 1: Bitcoin halving dates
There has been a lot of news with bitcoin this year. The ETF news, while well-expected, has been a major catalyst. A 70% move higher on a year-to-date basis would have anyone talking about the asset. However, as we get into April, perhaps the biggest news in the Bitcoin market will be the Bitcoin halving expected on April 19. You can see from the chart above how the reward to bitcoin miners has been halved about every four years in practice. In reality, it occurs every time 210,000 blocks are added to the chain. This regulated decrease in the supply of bitcoin, as the rewards the miners earn for validating the block becomes the new supply of bitcoin in the market, is one of the principal reasons many like to own bitcoin in the first place particularly with the supply of fiat currency not regulated and certainly not dwindling.