Bitcoin halving is expected in 2024: what will happen in the cryptocurrency market?

This question was answered Charles Edwards, the founder of Capriole Investments, an investment fund in Bitcoin and digital assets, during his extensive interview with Cointelegraph.

What is Bitcoin halving?

But what is Bitcoin halving? Bitcoin halving is an event that is always highly awaited by investors as it puts the cryptocurrency market in turmoil.

As we know, Bitcoin is mined by miners who are rewarded accordingly with the cryptocurrency to continue processing transactions on the bitcoin blockchain. By halving, their reward also decreases twice, and the number of BTC injected into the market from that point on drops. The natural consequence is that the value tends to increase. This event occurs every 210,000 blocks mined, in terms of timing about every 4 years. The last halving occurred on 11th May 2020, when the amount dropped from 12.5 to 6.25 BTC per block. In the 2024 halving, expected between February 2024 and June 2024, the number will drop from 6.25 BTC per block to 3.125 BTC.

Charles Edwards spoke openly about the topic at hand and went out on a limb by stating:

"Every Bitcoin halving drives a narrative shift and heightened adoption curve for Bitcoin, and the 2024 cycle is probably the most important halving we will ever see. A transition point."

The history of halvings

So according to Charles Edwards, we are at a crucial point that he defines as a transition point where the value of Bitcoin could explode by taking advantage of the favorable wave of halving.

And indeed, numbers never lie:

• 1st halving in 2012, the price of Bitcoin went from $11 to $1,100 within 1 year.
• 2nd halving in 2016, the value of Bitcoin shot up from $500 - $1,000 to $20,000 in December 2017.
• 3rd halving in 2020, the value of Bitcoin was around $9,000 before hitting the all-time highest value of over $68,000 in November 2021.

But Charles Edwards didn't just state this! He went on with some surprising comments:

"In 2024, Bitcoin will become the hardest asset in the world with certainty. The inflation rate of Bitcoin will drop to half that of gold, overtaking gold as the best store of value".

Important words indicate his great confidence in Bitcoin, and the news has been received very positively by both small and large investors. Until now, the haven asset par excellence had always been gold. According to him, Bitcoin could even replace it.

We only have to wait to find out the truth, but for sure, 2024 will be a key year with great news. At the moment, the value of Bitcoin is struggling to rise. Is it the right time to invest? Charles Edwards has no doubts about that!