Yesterday marked 200 days to Bitcoin Halving

[Fivestar4everMVP]

Bitcoin is 200 days to halving yesterday being the 10th day of October, 2023.
Halving is an event that occurs every four years supposedly, it is a period that historical patterns shows that prices tend to rally, even clearing previous all-time highs once it happens.

In a price chart shared by the “thescalpingpro” on X on October 9, the analyst appears to suggest that the world’s most valuable coin is in the early stages of not only breaking above 2021 highs but registering new highs after the network halves in 2024.



EARLY SIGNS OF BULL RALLY: 200 DAYS BEFORE HALVING.

Thus far, the trader(thescalpingpro) notes that Bitcoin is down 60% from previous all-time highs in 2021. This formation, the analyst says, appears to replicate the same pattern before Bitcoin halved in 2019. Then, just like it is presently, the coin fell 60% from 2017 highs of around $20,000.

As historical pattern shows, Bitcoin prices tend to bounce back strongly after posting sharp losses from previous highs. These upswings are often accelerated by the halving event momentum, pushing prices further away from cyclical lows.



Every four years, Bitcoin halving occurs, where the reward for mining a Bitcoin block is reduced by half. This feature is built into the protocol to slow the issuance of new Bitcoin. Due to the decrease in the number of coins released to circulation during halving, inflation is reduced, which supports prices, as previous price action has shown.

Although the impact of halving has been well studied, the sequence of events preceding this event appears to be stirring demand. As aforementioned, 200 days before the 2016 and 2019 halvings, Bitcoin fell roughly 60% from all-time highs.

The asset’s prices are at a similar price point precisely 200 days before halving. For this “near-perfect” replication of events, “thescalpingpro” is bullish that the coin might follow a familiar pattern of past cycles.

Bitcoin Race To $48,000 Before Halving?

The spike to all-time highs and beyond, as previewed, is a scenario that could happen once the halving happens. Before then, however, another analyst is convinced the coin could rally to $48,000.

The analysis is based on crucial support and resistance levels formed by the Fibonacci retracement levels. The analyst is convinced that the coin will retest the 61.8% of the swing high low of the recent 2021 to 2022 range, placing Bitcoin at $48,000 once it recovers.



The race to this level will be further driven by “halving momentum” and the “bear-to-bull transition from various indicators,” including the Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), and the on-balance volume of major exchanges, which appear oversold.


REFERENCE... https://www.binance.com/en/feed/post/1295002?ref=25201067&utm_campaign=app_share_link

I came across this post and was actually amazed, it got my hopes high on bitcoin concerning the coming halving, but i cant on my own confirm is what the trader(Thescalpingpro) claimed is true, this is why i decided to share here, to get an idea of what you guys think.

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[Cantsay]

Bitcoin is 200 days to halving yesterday being the 10th day of October, 2023.

Can the exact date of bitcoin halving be known?

I remember opening a thread concerning this topic and I got to know that any date you’ll see online is purely based on predictions and no official date can be known prolly till we get very close to it.

And if you search you’ll see that there are different dates for it online, some April, October (as you have stated in your post).

[Zaguru12]

Can the exact date of bitcoin halving be known?

I remember opening a thread concerning this topic and I got to know that any date you’ll see online is purely based on predictions and no official date can be known prolly till we get very close to it.

And if you search you’ll see that there are different dates for it online, some April, October (as you have stated in your post).

The exact date cannot be determined because of bitcoin difficulty adjustment. The average time to get a block confirmation usually varies every 14 days. Some blocks takes less than the average time for the miners to solve the block puzzle and some take more than the Time this can sometimes be attributed to hashrate. So this variation will definitely affect the date and time. If you compare some trackers they are not the same and most varies depending on what they use to Calculate the date. Some of this trackers only have a fixed date with the 10 minutes as average time while some regularly calculate it as difficult of the blocks adjusts.

The exact thing is it happens after 210000 blocks and that will take place at block 840000 and we are 28260 blocks shy of that as at the time do this post because the block confirmed is currently at 811740 on mempool.space

[Yamane_Keto]

Since Bitcoin Halving is not defined according to dates and time intervals, but rather the number of blocks, it is difficult to determine the day it will occur. These are some estimates.

https://www.bitcoinsensus.com/bitcoin-halving-countdown/  Bitcoin Halving ETA date: 2024-04-25 02:07:51
https://www.bitcoinblockhalf.com Reward-Drop ETA date: 24 Apr 2024 23:57:27 UTC
https://buybitcoinworldwide.com/halving/ 2024 Halving Date ETA: April 16, 2024
https://www.nicehash.com/countdown/btc-halving-2024-05-10-12-00 Reward-Drop ETA date: 23 March 2024, 07:17 UTC

Notice the difference here: month and day.
How can ABCs like this be published on binance.com, or is anyone allowed to post in the feed?

[CryptoHeadlineNews]

Thus far, the trader(thescalpingpro) notes that Bitcoin is down 60% from previous all-time highs in 2021. This formation, the analyst says, appears to replicate the same pattern before Bitcoin halved in 2019. Then, just like it is presently, the coin fell 60% from 2017 highs of around $20,000.

So in regards to this analysis you just gave above, does that mean since after 2019 halving, the price of Bitcoin rose from old All Time High (i.e $20,000) to a newer All Time High (i.e $67,000), which is approximately over 300%, does that mean after next year's halving, are we to expect to see another 300% increase in the price of Bitcoin for a newer All-Time High? (i.e 300% × $67,000=$201,000), Or are we to expect half percent increased just like in the case of half reward for miners? (i.e 150% instead of 300%), which is likely to give us the price of BTC at (i.e 150% × $67,000=$100,500)?. As whichever will still be a reasonable amount of profit for whoever invest in it today.

[Aanuoluwatofunmi]

Bitcoin is 200 days to halving yesterday being the 10th day of October, 2023.

Is this 200 days left an accurate date for the Halving to hold on that specific date or people are just sceptical about the event, we have to make sure that no matter how we are going to make our own predictions, it has to conform to he actual time the halving is taking place and which is base on a specific target on the mined blocks that correlate with the total numbers left unmined, I've been hearing some saying that halving is in-between March and May of 2024 but the actual date remain the mystery we have to anticipate on as we move closer.

[1miau]

Bitcoin is 200 days to halving yesterday being the 10th day of October, 2023.

Where's your data from because various sources are already at 196 days, like here:


https://www.bitcoinblockhalf.com/

Can the exact date of bitcoin halving be known?

The exact date cannot be determined because of bitcoin difficulty adjustment. The average time to get a block confirmation usually varies every 14 days. ...

The exact thing is it happens after 210000 blocks and that will take place at block 840000 and we are 28260 blocks shy of that as at the time do this post because the block confirmed is currently at 811740 on mempool.space

Most likely, it's even lower than 200 days in case Bitcoin's price stays around current levels or higher. Due to new miners getting more efficient (and old ones getting replaced), hashpower is rising in general and the average Block time will be a little bit below 10 minutes each Block on average.
In case Bitcoin's price will increase massively soon, our next halving could be around April 21/22 already.  

[AnonBitCoiner]

Analysing Bitcoin just upon the past history will not gives perfect prediction. Many changes has happend to the bitcoin. The world top exchange Binance is under review of SEC and many cases of fraudulent. Long term holders are short and investors are just looking for short profit. Big people such as Microstrategy, Elon , michael saylor are influencers who holding btc and their one tweet about selling could bring a drop in btc price. MT GOX refund will also be happen next year which also impact the btc price.
I still believe that btc will rise because most of the selling already done and now it's time to buy at low rate. Bitcoin ETF, Halving are two big events which ia very positive and we have not seen any big positive change in btc price.
According to this chart if history repeat we will see another dump before the halving and then green days will come. So i am ready for it, Keeping some fund in stable coin and waiting for drop. I am not seeing now better strategy tham DCA while trading in btc and especially altcoins are very risky at this stage.

[icalical]

As mentioned by other replies we can't really do a daily countdown on Bitcoin halving, it would be better if you use block height as countdowns, as the time I write this reply, the block height is around 811,*** so about 29.*** more blocks into halving. I think the Bitcoin halving are getting less hype, because we got overwhelmed by many other news like ETF, and other crypto news.

[GreatArkansas]

From what I observe on this current price level and compare it to previous Bitcoin block halvings. I am more positive that we will not see anymore new lows, maybe a very nonstable or sideways will still be there, 200 days are still long plus we are about to end the 2023 year, so we should expect the unexpected.

[Fundamentals Of]

There's no certainty as to the exact date of the next halving. What we have are estimates, so it's understandable if these estimates aren't exactly similar. They don't fall on exactly the same dates, so countdowns are more or less useless because they aren't 100% accurate.

But the exact date of course is not what we want to determine. What we want to know is how strong the bulls will be after the halving. I agree that not only will the bull market after the halving bring back the ATH, it will also push the price towards 6 digits.

[SquirrelJulietGarden]

Where's your data from because various sources are already at 196 days, like here:


https://www.bitcoinblockhalf.com/
Bitcoin's price will increase massively soon, our next halving could be around April 21/22 already.  

Data is estimation and has inaccuracy, big or small differences between different websites.

1. BuyBitcoinWorldwide - 17 April, 2024
2. CoinGecko - 25 April, 2024
3. BitcoinBlockHalf - 25 April, 2024
4. Nicehash  - 13 April, 2024
5. CoinmarketCap - 25 April, 2024
6. CoinWarz - 24 April 2024

[OgNasty]

It is exciting to think we’re getting so close to the next halving. While it is likely that we’ll be seeing an upward swing in price leading up to the halving, it’s important to also remember that the major price peaks after the halving usually don’t take place for another 18 months, so don’t expect a massive bubble around halving time.

[MusaMohamed]

It is exciting to think we’re getting so close to the next halving. While it is likely that we’ll be seeing an upward swing in price leading up to the halving, it’s important to also remember that the major price peaks after the halving usually don’t take place for another 18 months, so don’t expect a massive bubble around halving time.

The last halving with Covid-19 affected Bitcoin a lot but I believe after failing to reach $100,000 in the last halving, Bitcoin will make it done in 2024 halving.

I believe $100,000 is very possible for 2024 halving because if Bitcoin breaks out from $69,000, FOMO will make it rise 30% more easily because rising 30% is seen in Bitcoin history. The challenge is only will Bitcoin touch its past all time high about $69,000?

I think it will do it.

[philipma1957]

Bitcoin is 200 days to halving yesterday being the 10th day of October, 2023.

Can the exact date of bitcoin halving be known?

I remember opening a thread concerning this topic and I got to know that any date you’ll see online is purely based on predictions and no official date can be known prolly till we get very close to it.

And if you search you’ll see that there are different dates for it online, some April, October (as you have stated in your post).

 you are correct as a huge amount of hash could go online and speed it up 🆙 to march  and 2024 or a huge amount of hash could go offline slowing it to May 2024.

Or the hashrate could simply go sideways and the ½ ing will be in April

[Latviand]

From what I observe on this current price level and compare it to previous Bitcoin block halvings. I am more positive that we will not see anymore new lows, maybe a very nonstable or sideways will still be there, 200 days are still long plus we are about to end the 2023 year, so we should expect the unexpected.

Even if the halving happens, we're still probably going to wait a long time for any significant pump in the prices because it was the same for the last market pump, it took bitcoin a year before it can get to a new ATH, and besides the halving we probably need another significant market move because other than halving for us to truly see another ATH but you're right, expect the unexpected.

[Onyeeze]

Congrats for bitcoin halving for marking 200 days, but their something I want to understand in bitcoin having because I do get a little confused in bitcoin halving, what the essence of bitcoin halving and what are the impact of Bitcoin halving for bullrun and bearish season, this two things is something I want to know properly before any other things in bitcoin, if the halving is necessary why do we still be hoping for bitcoin to be out of bearish season and jump for bullrun, this halving is it what brings bitcoin to increase, I don't know the point of everyone talking of halving and no halving.

[sunsilk]

While the exact time for halving are given inaccurately as all of them are estimations, it doesn't matter to me since no matter what the speculated date it will happen, we're sure that it happens every 210,000 blocks.

The cycle does shows that every time halving's done, the demand increases as the reward for the miners decreases and cut into half.

And the most awaited thing every halving is the price increase that we usually get. As for this year, the lowest for Bitcoin's price is close to half from it is right now and with that chart shows, the skyrocketing of it is very likely and sky is the limit when it comes.

[Husires]

48,000 are possible levels because the price is currently struggling to break the $31,000 level and may do so at the beginning of next year, which means the possibility that we will close at the levels of $38,000 to $42,000 before January of next year, or $42,000 to $48,000 before March, which This means that we will be at that level between March and April, which means that during Bitcoin Halving the price at that level will be possible and will not lead to panic.

If this does not happen, it may lead to the pump failing and being limited to only $100,000.

[AprilioMP]

Data is estimation and has inaccuracy, big or small differences between different websites.

1. BuyBitcoinWorldwide - 17 April, 2024
2. CoinGecko - 25 April, 2024
3. BitcoinBlockHalf - 25 April, 2024
4. Nicehash  - 13 April, 2024
5. CoinmarketCap - 25 April, 2024
6. CoinWarz - 24 April 2024

According to various data from several sources providing analysis that the 2024 bitcoin halving will occur in April with different estimated dates as estimated by several of these sites.

The halving turned out to be the most important event in the bitcoin blockchain when mining rewards were cut in half¹.

As a person who is still dark in terms of analyzing things related to things that can still change, such as the Bitcoin halving and only relying on sources from other people to understand something that I have never experienced myself, I will keep it as a note about the 2024 halving that will occur in April.
But, as someone who believes in bitcoin will reach its highest price, just watch and observe every event that will occur without caring too much about the current price situation until a new high price comes.