Bitcoin Forum

How will the BTC mining difficulty level affect validators (btc miners) due to 1/2 reduction in reward after the next halving and possible backlash on general ecosystem?

Please as simple as you can I'd love to get your explanation on this.

I've made previous post regarding this and I'm still making enquires to deepen my understanding so understand me no bad talks please
https://bitcointalk.org/index.php?topic=5458334.msg62494066#msg62494066

I've been reading closely all replies to my post and I'm grateful to all who commented your replies are gonna be helpful what I'll do is sum it up and broaden my understanding. Once again thanks to you all.

The user ,Lucius I don't in anyway wish to go against rules someone here in one of my post I'm sure legendary rank member asked replied that I did a good post but I should have made it capitalized the headings so I thought doing that was a way to make more ideas come in. Please you have to take down your words(I've been writing exams yet I try to come and learn from the question I asked you shouldn't say what you are not sure of it's bad and doesn't speak well of you) because I was following instructions and I've made the corrections you said please.

To all newbies that are here or will be reading this I'd give the meanings to abbreviation used by other users during the course of their reply
HODL-Hold on for Dear Life
ASIC- Application-Specific Integrated Circuit
IMHO- In My Humble Opinion
FOMO- Fear Of Missing Out
ATH- All-Time High
FIAT- all government controlled money e.g US dollars

Wow I really got a comprehensive explanation even now on logging in...I spotted a user but as I kept reading I saw more and more explanation for other users and well explained data and good links so I'd appreciate you all generally here. I hope this serves as a nice data for this particular topic currently and in future date as well.

About every four years, the number of Bitcoins miners receive for each block they mine is cut in half. This reduction in rewards can impact miners significantly, making their operations less profitable. When the next halving occurs, miners will receive even fewer Bitcoins for their work. This could lead to some miners exiting the network, especially if Bitcoin's price doesn't increase.

1. First Halving (November 28, 2012): The first Bitcoin halving happening when the block reward was reduced from 50 BTC to 25 BTC.
2. Second Halving (July 9, 2016): The second halving reduced the block reward from 25 BTC to 12.5 BTC.
3. Third Halving (May 11, 2020): The third halving happened, reducing the block reward from 12.5 BTC to 6.25 BTC.
4. Fourth Halving (expected April 16, 2024): The fourth Bitcoin halving will reduce the block reward from 6.25 BTC to 3.125 BTC.

source: https://defichronicles.medium.com/the-halving-effect-what-the-data-tells-us-about-the-next-bull-run-8d42049a5edc

Here's a graph from Coindesk showing the overall supply of bitcoin as we approach halving and the subsidy (number of bitcoins minted after each halving)

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I don’t know if you’ve heard of plagiarism here in the forum and what punishment is being applied to account that are found guilty of it.

https://talkimg.com/images/2023/09/06/mPJgg.jpeg

A quick scan of your post gave me that, and since it’s a date I decided not to report it so do well to include this link^[1] into your post and make sure the next time you’re making a post no matter the length, always include the source of where you copied from, I’ve seen your other threads you do copy the links I’m not sure why you left this one out, but do well to correct your errors before you’ll be reported.

[1] https://defichronicles.medium.com/the-halving-effect-what-the-data-tells-us-about-the-next-bull-run-8d42049a5edc

Most educated miners know well in advance about the reduced block rewards. Every halving there are a few retail miners that have no idea what is going on why their profits halved over night but for the big companies this is not an issue.

They buy the equipment early and know the risks involved. Whether it will affect price is hard to tell because most miners usually sell during bull markets and not daily.

Well, from my little experience, I might be right, I might be wrong, if I am wrong, I am open for correction..

But I actually think that Bitcoin halving have little to nothing to do with Bitcoin mining difficulty, this i think because, the difficulty can go up or come down on this own, the factors driving the difficulty up or down i am not sure of, but i think it has something to do with number of miners online mining bitcoin at a particular time, that is to say that, when there are a lot of miners mining bitcoin, the mining difficulty increases, and when there are less miners , the difficulty reduced, this increase and decrease i think also have something to do with the total hashrate or whatever its called..

The takeaway here is that, i believe halving has very little to nothing to do with increased or decreased mining difficulty since this aspect of bitcoin also goes up and comes down on its own just like the price of bitcoin.

What possible backlash? All of the miners(or at least those with half a brain) are already aware of the past and future halving events. It's not as if block halvings are something that's sudden and unexpected.

Now, the question is: will it cause us to have more miners(due to potential increase in price) or less miners(some miners being less profitable due to halving of rewards). Time will tell.

It will be some cycle:
- Initially, miners experience a direct reduction in their revenue because they receive fewer coins for their mining efforts.
- Some miners may find that the reduced rewards make mining unprofitable, and they may decide to shut down their mining operations.
- The total computing power, or hashrate, of the network may decline as miners with higher operational costs exit the market.
- If the hashrate decreases significantly after a halving, the difficulty will decrease as well.
- A lower difficulty level may attract new participants to the mining industry only if the price of bitcoin rise and this may be the case, keeping the currect demand for bitcoin some constant but the new suply reduced this may lead to an price increment

This is more or less the cycle of th halvings with a lot of small details ommit or oversimplified

Halving in mining rewards is predictable and all miners are aware of it. What is not predictable and what significantly affects the profitability of mining is the increase in the difficulty and price of BTC. Investing in mining equipment always involves a bit of gambling.

By the way, mining difficulty has nothing to do with halving. At least not directly. However, halving can have a secondary effect of reducing difficulty, as albert0bsd described.

Bitcoin halving needs months to have effects on price because halving is only an event that has noise to help Bitcoin reaching to more people with halving noise effects. Very general, Bitcoin halving event will help Bitcoin expands its communities, bigger.

For Bitcoin miners, if they are short term miners who don't plan to hold their bitcoins a long time, but only mine and sell bitcoins after each week or month, they can feel shocks from halving. Fortunately after a few Bitcoin difficulty retargets, they will feel better with block rewards and if price rises because of halving, their mining ROI won't be affected too much.

If they are long term miners, with holding plans, they will feel very little pressure from Bitcoin halving.

^ Technically, it's quite hard to understand those aspects when it comes to mining profit gaining because I am not a miner but from what I have understood, it could be miners experience a direct reduction in their income after a halving event because they receive half the number of new BTCs they used to for every block mined. This can be particularly challenging for miners who operate with slim profit margins, as their revenue is effectively cut in half. However, probably this how BTC was created and it is designed to control its supply and create scarcity. The long-term effects of halvings are often seen as positive for the overall BTC ecosystem or in the crypto world. So the effect would be good for us as crypto enthusiasts.

Those for whom mining BTC is a serious business started to adapt for the next halving already after the last halving, because that's what professionals who protect their investments do - and those who are ordinary amateurs are, as always, doomed to failure, in any business. I don't know if you are aware that for the first four years the reward per block was 50 BTC, and now it is only 6.25 BTC - considering your thinking, the whole thing should have failed a long time ago.

It would be good if you could explain to us exactly what you meant when you said "possible backlash on general ecosystem", because I don't see any sense in what you wrote in relation to halving and Bitcoin.

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The use of capital letters has its own meaning, so it makes no sense for the title to be in that format in the future.

Thank you for your feedback! I've added the link as a source in my comment. I'll pay close attention to have the source present going forward.

First, we're all aware miners and not that halving causes their rewards to be halved or cut in half in other terms. Those that have experienced the other halving will continue to run their miners as long as it is sustainable as they'll get their expenses paid through what they mine.
If it turns out that it's no longer happening, they have an option to upgrade or just simply shut down the miners they're running. Basically, what everyone has said here is right and it's up to you on how you're going to extract all of them and how you're going to summarize the actual thing. But anyway, it's always about the adoption of the situation and no matter how many times halving we go through, there will always be those miners that will keep going on.

The probable backlash OP mentioned is that if the block rewards are halved and the price doesn't do well enough to offset the costs of mining a bitcoin block. I had these concerns as well but I'm hopeful that miners will be able to make do and adjust to the new changes when the time comes. Miners definitely have to because when the block rewards get zeroed out, tx fees will be the only benefit for mining transactions.

From historic data, Halving has always lead to new ATH and this somehow counterbalance the reduced block reward. I believe miners already factor this in in their business that is why we still have investments in the mining business.

The people who will feel much of the effect of halving are those already buying now that the price is still low because if everything happens as usual in every halving year, then we night see very huge high prices.

I believe miners have already acknowledged that the payout would be reduced by half following the halving. That is why the miners' moto would always be "today is the best day to mine Bitcoin." However, as the chart shows, Bitcoin prices always rise after the halving. That is, the investor would benefit greatly, but the miners would benefit a little bit. If a miner quits their job, I'm confident there will be another to take their place. So I don't think there's anything to be concerned about there.

Please as simple as you can I'd love to get your explanation on this.[/quote]


There are cases in that Bitcoin halving can give a backlash on the general ecosystem of Bitcoin mining, and that is if the price fails to adapt to Bitcoin's block halving.  We will know that miners won't run their machines if it is unprofitable for them.  In case the price does not adjust, there will be a possibility that miners will stop mining and the possibility of mining difficulty will be reduced.  But if the price adapts on the Bitcoin halving and miners can see huge profits, then the opposite which is more miners diving into calculating the next block will join the process.

Bitcoin is 75% To Halving, Here’s How Past Cycles Looked Like At This Stage (https://bitcoinist.com/bitcoin-75-halving-past-cycles-looked-at-this-stage/)

75% count down to a next halving and if we compare the on-going process with previous halving cycles, we would see some similarities. The market has similarities with each new cycle, new investors come, new capital joins, FOMO appears then panic occurs. It's a repeated psychology of market cycle.

Pyschology of market cycles (https://fifthperson.com/psychology-market-cycles/)

It's hard to know what phase we're currently in but Disbelief phase is going to complete in my opinion.
https://pbs.twimg.com/media/FvOMXegacAEWs0k?format=jpg&name=900x900
https://pbs.twimg.com/media/F5FuTbbXIAAv2XR?format=jpg&name=900x900
https://pbs.twimg.com/media/F4ycy9tWwAA_6PC?format=jpg&name=900x900
https://fifthperson.com/wp-content/uploads/2016/01/Psychology-of-Market-Cycles.jpg

The swing between each having is calming down and there is not allot left of the scarcity left to mine. what 10% ish ish? 5-6 around our current price, not large percent of the market cap anymore. The US economy housing and market will be entering some bubble trouble near then negating any spike. If I do see a sharp FOMO rise I will take peoples money and wait for it to simmer back down.

This is the reason why if you can see on every block halving we can see how the price of Bitcoin every block halving is pumping.
So for me, it's kinda of every block halving, Bitcoin is looking for price discovery, just take a look on chart and see every block halving in previous, you will see how price is reacting.

Right after the 2020 halving, there was a dip in Bitcoin mining difficulty. The network lost some trillion hashes in just a month's time. It was probably due to the halved block reward. Some miners might have been compelled to pause operations due to the decreased reward. But then it quickly recovered thanks primarily to the fast increase of Bitcoin's price. It only took around 6 months from the halving day for the price to double. So it balanced the halved reward. Miners must already be in profit. From then on, the difficulty climbed more or less continuously except when China announced a ban on Bitcoin mining.

So, there could also be a temporary dip in difficulty after the next halving takes place. But recovery will quickly follow.

As to the possible backlash in general, I don't think there will be any. This has been the design ever since. But regardless of a possible event where some miners stop operating because of losses, the difficulty would just adjust and the network continues to operate as always. And a significantly lower difficulty will eventually be enticing for those who want to mine. The price of Bitcoin will also play a vital role.

What I also seem to be concerned about appears to be similar to your concerns.

So when block rewards decrease, it means that BTC income for miners will also decrease. The minimal BTC earnings should ideally be balanced by the rising BTC price against FIAT to ensure miners can continue to operate their nodes. Of course, it would be a significant concern if the Bitcoin price were to drop, and market demand were to decline, meaning some miners, I believe, would cease operations as they are no longer profitable.

This may leave only savvy miners who harvest their mining results with each new pump or ATH. I've always thought that the ATH formed after halving is the moment for miners to sell the BTC they own, while the subsequent price is the market price traded by everyone.

However, if a price pump doesn't occur after halving, the number of BTC miners could be severely threatened.

Well, I must say that halving will be helpful for those miners who already know about it. There are many mining farms that will sell their ASIC miners for cheaper rates before and after the halving event, and the determined miners will get a chance to purchase those mining equipment for very cheaper rates. After halving event many of the current miners will stop mining due to less profits from mining operations and that's why the mining difficulty level will drop by significant levels.

But, I must say that those miners who sell their mining equipment and halt their mining operations are the naive ones. I'm calling them naive because they aren't aware of crypto market and the bull run that's going to take place after halving event. Those miners could earn a lot more profit during halving event if they don't sell their equipment right away, but I'm quite sure that most of those miners are just calculating their daily earnings from mining operations and they really don't care much about holding of their mined coins.

There won't be much impact on the general ecosystem of the Bitcoin, but surely difficulty levels will reduce to good levels for at least 2 to 3 quarters depending on some factors. Let's suppose that during the halving event some new and powerful mining equipment are announced and once the miners get those equipment in their hands then the mining difficulty may rise after some time when those ASIC mining equipment's become functional for miners.

Bitcoin halving has really effect the cryptocurrency market, because many new investors that came in during last Bull Run are feeling disappointed as the crypto market is on the Bear motion that seriously dropping most investors assets to zero dollar. Nevertheless, what need to know about Bitcoin is the nature of the business, base on research, after Bitcoin halving demand always high that skyrocket the price with that other alt-coins follow the uptrend in the cryptocurrency market.

As others pointed out, it's not like halving's a mystery, a secret that miners are unaware of. Yes, the reward is getting twice smaller, but that doesn't mean that miners will feel discouraged because miners are expected to be interested in a potential profit coming from the future increase of Bitcoin's price. FOMO is can also be triggered prior to halving, with people suddenly becoming more aware that 6.25 now is 3.125 in several months. I don't think that halving has a negative effect on Bitcoin market, miners' motivation, transaction fees or anything like that.

Looking at the past halvenings, there's no immediate hashrate drop due to miners switching off after becoming unprofitable because of the halvening. This is probably because a lot of miners have high enough profit margins that even after halvening they are making profits. Plus the price growth will help to compensate for halvening.

The problems might start arise when the price will become more stable and there will be no more post-halvening bull runs. If mining will become more saturated and profit margins will become lower, then halvenings could have big effects, although at that point transaction fees might start playing bigger role.

Miners have the option to switch to mining other coins and tokens if this process is not beneficial for mining Bitcoin. Why are people so confident that the price will go up after the halving? For some reason, I don't have that feeling at all. It seems to me that all players will again be deceived and heated for money. Big whales need to make money from smaller whales, right?
To be convinced of this, it is enough to look at the experience of previous years. Something not very many positive moments on the chart.
Therefore, I would not build any illusions about the price increase. It only misleads and gives false hope.

I think that it would affect the price of BTC, since mining process becomes longer and more difficult. Moreover, the quality of mining hardware improves after or immediately before halving, so that mining process changes. So, in general, every halving is the chance to improve technical abilities of the network. Price of BTC usually goes up for a bit.

I don't think you can categorically say the OP's post you quoted was plagiarized. What I read from it is someone who read something somewhere for a long time and internalized it to reproduce later.

It's their fault and they should bear the brunt. They got themselves where they're because of greed. According to Warren Buffett, I repeat in paraphrase, we should buy when others are scared of buying and sell off once we start seeing people rush into the market. Those investors you so referred to bought when people rushed in. They waited too long to buy in. It's the same way we've been chorusing that now is the right time to buy in because of the incoming Bitcoin halving next year. Sadly, many people are reluctant to do that now. Wait till 2024, you will see them chase the market. But of course, they will buy high then and discover that the market has dumped on them.

Yeah, I thought about that before making my post, if you check normally plagiarism report has a dedicated thread for it but since we’re dealing with dates of an event (like I stated in my previous post ) it’s very easy to see similar post like that online this why I just gave him a link to include in his post so as to avoid any drama… Assuming his post was reported as plagiarised or paraphrased post we would have been discussing a different issue now.

And if you check his response to my post he didn’t sound like someone who made a post that turned out to be similar to one that already existed.

Quite frankly true, about the general effect. It has only to do with all ecosystems that use BTC or have it in investment form.
It is also an inevitable phenomenon in the actualization of its vision of 21million BTC . 
I wouldn't stress about it much if I were you OP.
Just make your plans to either HODL, trade till then and pause, stay away from BTC till after the halving, trade and HoDL altcoins.

The halving is going to happen, the aim is at the bull run expected to happen after the halving. It is an opportunity to make gains if you are equipped with the right knowledge of trading and BTC investments of course.

Halving strategy is a mess, non thought through IMHO.
In the end what will be the role miners will play? They retire?

I think the right time to invest in bitcoin is a few months before the halving. Bitcoin halving will occur in 2024.

Why is it called halving? Now when people mine 1 block of Bitcoin the reward is 6.25 BTC, after the halving it becomes 3.125 BTC. Before the first halving, 1 block was 50 BTC, then 25 then 12 BTC and so on.
Now we are in our 4th halving.

So the right time to buy BTC is when the price rises and then falls sharply, we immediately buy it. My suggestion is to buy it 6 months before the halving and sell it 1 or 1.5 years after the halving.

If you are already warning others that they need to learn something, how about starting from yourself? The rules of good behavior say that you should not use capital letters (and you still use them in title), and also that when you open a topic, you should participate in it.

Someone I knee is worried about the future of Bitcoin mining, that if the value of Bitcoin when the halving is halved into 1.5BTC per block isn't good enough it can kill Bitcoin, I told him I disagree, because if the value of Bitcoin drops even more, let's say back to 10k in 8 years it will still looks attractive to holders, also new Asic miners will be created, which will wager things between rewards and electricity consumption, I am not worried about this a bit, Bitcoin always finds it's way out of the impossible, it's going to be fun watching everything unfold in a few years later, I am excited.

If you want to know the effects of halving on miners, all you have to do is to look at the past 14 years and the past 3 halvings. In other words people who claim it will have a "backlash" because miners make less money have not checked the history where hashrate keeps on growing after the halving even though the income is 50% less in terms of bitcoin.

As for the price, again the history suggests that there will be a hype during the months leading to halving which could cause a rise which will disappear after the halving and price can come down a little. But in long run the decreased rate of supply creation will reduce the sell pressure and price will go up.

Hashrate increases a lot, difficulty increases consequently and their increases are sustainable. Bitcoin price grows too to support miner revenues from mining. If miners don't have profit from mining after past halvings, they will shut down their ASICs and hashrate will drop.

It is not what actually happened after past halvings with miners. They continued mining because they still got good profit from mining.

Halvings are chances for whales to manipulate market so they will create lot of fud and hype to force the market to dive or boost it to rise. Generally I see from past halvings, if you can hold, you will get profit.

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Newbies shouldn't trade with leverages and lost bitcoins by liquidations. I learned it and want newbies to understand it if they think they can get rich from trading.

this is a solid question.

I would argue the 2012 December ½ ing was too early in BTC to use as an example of what to look for.

This leaves the 2016 July  and 2020 May ½ ing dates.

Covid fucked up all of 2020 so I would toss out the 2020 info.


we would then be left with only 2016 July ½ ing patterns as valid

and are trying to match it up with 2024 ½ ing


https://finance.yahoo.com/chart/BTC-USD

2015 and 2016 monthly closings 19 months time

January >>>>>>>>>>>>>>>>>>  $226.97
February >>>>>>>>>>>>>>>>>   $260.20
March >>>>>>>>>>>>>>>>>>>  $247.27
April >>>>>>>>>>>>>>>>>>>>  $232.07
May >>>>>>>>>>>>>>>>>>>>  $222.92
June >>>>>>>>>>>>>>>>>>>>  $258.62
July >>>>>>>>>>>>>>>>>>>> $281.60
August >>>>>>>>>>>>>>>>>> $228.12
September >>>>>>>>>>>>>>>> $237.54


October >>>>>>>>>>>>>>>> $325.43
November >>>>>>>>>>>>>>>>  $362.48. we kind of match this time right now
December >>>>>>>>>>>>>>>>  $343.33


January >>>>>>>>>>>>>>>>>> $373.05
February >>>>>>>>>>>>>>>>> $435.12
March >>>>>>>>>>>>>>>>>>> $417.96
April >>>>>>>>>>>>>>>>>>>> $451.87
May >>>>>>>>>>>>>>>>>>>> $536.92
June >>>>>>>>>>>>>>>>>>>> $676.29
July the ½ ing for 2016 >>>>>>>> $606.27 July close about 20 days after closing










2022-2024 19 months time






October >>>>>>>>>>>>>>>>>> $20,485
November >>>>>>>>>>>>>>>>  $16,967
December
January
February >>>>>>>>>>>>>>>>>
March >>>>>>>>>>>>>>>>>>> $28,411
April >>>>>>>>>>>>>>>>>>>>  $28,091
May >>>>>>>>>>>>>>>>>>>>> $26,819

June >>>>>>>>>>>>>>>>>>>>  $30,590
July >>>>>>>>>>>>>>>>>>>>    $29,675. this time matches up with bold above
August >>>>>>>>>>>>>>>>>>>  $25,800

Sept
October
November
December
January
February
March
April the ½ ing for 2024.  So I double 25,800 to 51600 and double 30,590 to 61800


my pre  ½ range in early April 2024  is 51.600 to 61,800

The halving (https://www.whatisbitcoin.com/learn/what-is-the-bitcoin-halving) has a minor effect on miners who actually want more bitcoin and a major effect on miners who sell it for fiat.

When the supply of newly mined bitcoin is cut in half from 6.25 bitcoin to 3.125 bitcoin, obviously all bitcoin miners will receive fewer sats for each block that they mine. This will obviously make it more difficult for some miners to mine at a profit so they will have to shut down because they will be spending more money on electricity than they receive from the block reward (https://www.whatisbitcoin.com/learn/what-is-the-block-reward). Imagine a miner spending $10 worth of electricity to mine $11 worth of bitcoin before the halving but spending $10 to mine $5.50 worth of bitcoin after the halving. They would simply get more bitcoin if they just bought it rather than mining it.

Any rational miner who actually wants more bitcoin would simply shut down their miner and spend the $10 to just buy $10 worth of bitcoin instead of buying $10 worth of electricity to mine $5.50 worth of bitcoin. This does 2 things.
1. It puts downward pressure on the hashrate when they shut down their mining hardware- https://www.whatisbitcoin.com/learn/what-is-the-hashrate
2. It puts upward pressure on the price of bitcoin when they buy- https://www.whatisbitcoin.com/economics/the-price-of-bitcoin

If enough miners shut down and divert their resources to buying bitcoin instead of buying electricity to mine bitcoin, then the difficulty of mining (https://www.whatisbitcoin.com/learn/what-is-mining-difficulty) will adjust downward and the price will adjust upward until it becomes profitable enough for some of them to mine again.

Miners who only mine bitcoin to sell for fiat will be hurt much more because they don't actually want the bitcoin. They only want more fiat. What they are actually doing is just speculating on the price of bitcoin but they are using bitcoin mining to do so. They spend fiat to buy mining hardware and then they spend fiat to buy electricity to mine bitcoin and then they sell their bitcoin to hopefully get more fiat revenue than they initially invested. The halving will likely put a lot of hurt on these miners because they are ultimately speculating on the price of bitcoin with some extra steps.

I must specially thank you for this comprehensive reply.

I would say this is just a reminder for every one of us and new thing for the newbies. It’s most awaited event by bitcoin hodler since there is high chance it will pump Bitcoin economy to next level. The previous mapping suggests we get a big dip first, then we end up in high pumping zone once FOMO is out. This is big event for the millionaires, institutional investors, and most of the big companies to get lot of Bitcoins in their bags. They know very well when rest of the word is fearing out their sells, it’s time to buy and hodl.

Hope so most of the forum members have learned the lesson in previous 1 or 2 halving events if they had been around for that much time and hodl by not freaking out. Good times coming boys, hope so we get good bag of bitcoin soon.

What happened before is a sort of learning, especially for those who experienced that time like me.
As more people believe in the huge impact that the halving, they also think that it gives them a reason to stay in crypto and take the benefits it gives to us like a chance of earning more. Because what we think after halving is Bullrun and this is the time when holders got their reward from being patient. If we take the chance to accumulate more on the bearish moment of the market, we also have the chance to earn more when halving is done.

For sometime I have been thinking about halving and whether the mining market is ready for it or not, because after all the direct and immediate effect of halving is reflected on miners, they are the ones getting hit with the first shockwave.

Saying the price will pump because of less supply is wrong, millions of bitcoins are in daily circulation, at least 50 times of what miners could offer to the market is being offered already by traders, so no shortage of supply, the price will pump after a while because this is said from the beginning whenever there was conversations about halving, so the psychological  auto response to this situation is believing that bitcoins now worth more, therefore you'd willingly pay more for it, the other reason for the pump is caused by another mentality which is FOMO before the PUMP.

After each dipping there is always a pumping mechanism through which bitcoin elevates. As some months are remaining so we don't know that will there be dip or pump but we are sure that next year will make all of us happy.

Those who have collected bitcoin and also those who are still collecting will be thankful for their achievements due to their accurate choice so if someone have not choose bitcoin yet should must buy it before it gets too late.

People often don't take benefit from the opportunities and when the time passes then they saying crying that they were not familiar that the opportunity was such a great.
Always try to search about new technologies that can make you rich because in such condition spending your freely is not possible therefore select bitcoin if you want to take advantage of coming great opportunity.

As the percentage of bitcoin mined gets closer to 100% and the miners get less bitcoin due to the halving, then the halving will begin to lose its influence on the market, and we may get to a point in which the halving does not produce bull runs anymore and bitcoin begins to move in a more stable way, still I do not think we are at that point yet and we are bound to see another bull run, even if I think it is going to take some time to materialize.