Will Bitcoin plunge on the day of the halving? How long ago did it plummet?

Will Bitcoin plunge before the halving?

Generally speaking, the possibility of a big drop is relatively small, but there will be a small drop. There is no fixed rule for whether Bitcoin will plummet before each halving. Every halving in history is accompanied by different reactions from the market. Sometimes the price rises before the halving, and sometimes it experiences some fluctuations or fell slightly.

The Bitcoin Halving is a scheduled event in the Bitcoin network where the reward for mining a Bitcoin block is cut in half. Bitcoin’s halving has a significant impact on its price through supply and demand dynamics. As block rewards decrease, the rate at which new Bitcoins enter the market slows, and if demand remains stable or grows due to scarcity, prices could rise.

Historically, the price of Bitcoin tends to rise after the ban is lifted, but past performance is not indicative of future results. Factors such as market sentiment, global economic conditions, and regulatory changes also play a crucial role in determining Bitcoin prices. These broader market context and supply reduction effects must be considered when assessing the potential impact of the halving on the price of Bitcoin.

How long before the Bitcoin halving plummeted?

In the history of Bitcoin, every halving is regarded as an important event, but this does not mean that Bitcoin will definitely plummet before or after the halving. Volatility and price changes in the Bitcoin market are affected by many factors, and halving is just one of them.

Before the first halving on November 28, 2012, the price of Bitcoin was relatively low, and the price did not surge rapidly after the halving. In fact, the price of Bitcoin experienced some volatility in the months following the halving, but eventually started to rise.

July 9, 2016 Before the second halving, the price of Bitcoin experienced a period of steady increase. After the halving, the price fluctuated, but then began to enter a more significant bull market.

On May 11, 2020, before the third halving, the price of Bitcoin experienced some fluctuations, but after the halving, the price of Bitcoin ushered in a clear bull market and reached a record high.

As for the answer to the two questions of whether Bitcoin will plummet before the halving and how long before the Bitcoin halving, the market performance before the halving is affected by many factors, including market sentiment, investment investor expectations, macroeconomic factors, etc.

The purpose of the halving mechanism itself is to gradually slow down the issuance of new Bitcoins, making the total supply of Bitcoins more limited, which may affect market scarcity.

Investors should be aware that the Bitcoin market is highly volatile, of which the halving is only one factor.

When making decisions, investors are advised to consider the diversity and uncertainty of the market, as well as an investment strategy that adapts to their own risk tolerance.

What platforms are recommended for Bitcoin exchanges?

1. Binance binance

Binance (Binance) exchange is a global It is a global cryptocurrency exchange that serves 180 countries and regions including North America, Europe, Taiwan, the Middle East, Hong Kong, and Malaysia, provides more than 600 cryptocurrencies, and has 120 million registered users worldwide. Since 2018, Binance has been considered the world’s largest cryptocurrency exchange in terms of trading volume, with a 24-hour trading volume of US$76 billion.

Inventory: Founder Zhao Changpeng and his old employer Okcoin have been having constant disputes. They were not optimistic at first, but later they found that the performance of the platform was quite impressive!

2. Ouyi okx

OKX is the world's top two virtual currency trading and Web3 platform, providing Bitcoin (BTC), Ethereum (ETH), USDT, Shiba Inu (SHIB), Ripple XRP, Dogecoin (Doge), etc. to global users. Cryptocurrency and derivatives trading services for virtual currency assets, allowing you to conveniently and quickly manage investments in cryptocurrencies and other assets.

Inventory: OuYi’s trading volume, number of currencies, and security are among the best in China, and its handling fees are also low.

3. Huobi.com

Huobi Global Professional Station is an innovative digital asset international station under Huobi Group that serves professional trading users around the world. It is committed to discovering high-quality innovative digital asset investments. Opportunity currently provides trading and investment services in more than 40 digital asset categories. It is headquartered in Singapore and is operated by the Huobi Global Professional Station team. Huobi Group is a globally competitive and influential comprehensive digital asset service provider, providing high-quality services to millions of users in more than 130 countries. It has independent trading business and operation centers in Singapore, Hong Kong, South Korea, Japan and other countries and regions. Huobi Group is in a leading position in the world in terms of technology platform, product lines, security risk control system, operation and customer service system.

Inventory: It has created the highest record for the global Bitcoin trading platform and is one of the largest Bitcoin trading platforms in the world.

4.Open Sesame gate.io

Gate.io was established in April 2013 with the Chinese name "Open Sesame". It was formerly known as China's "Biter" exchange. The founder is Han Lin, who has a technical background. PhD. The original intention of Gate.io was to "find a safe trading place for everyone who believes in Bitcoin". This idea has been implemented in the development of Gate.io. After the tightening of regulatory policies in 9.4, Gate.io left China and has been developing overseas. Recently, it has also entered Southeast Asian markets such as Taiwan, Malaysia, Indonesia, Singapore, and South Korea. Gate.io is currently headquartered in the British Cayman Islands and provides fiat, spot and derivatives trading of cryptocurrencies to more than 4 million users from more than 130 countries. The official claims to provide 100% margin audit proof, authentic and transparent crypto asset trading services.

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