Breaking: Bitcoin Halving Event [2024] is over!

[Bureau]

So, the long awaited and expected Bitcoin halving event has now been officially completed. With this halving miner's reward has been reduced from 6.25BTC to 3.125BTC, which is kind of sad for the miners. Post, halving everyone is expecting a bull run either by the end of the year or next year. We already saw a short bull run at the beginning of this year due to Bitcoin ETF.

My question to you guys is what are your expectations from Bitcoin halving and when do you think the bull season will be coming back?

[TheUltraElite]

The drop in miners fees is not really an issue for them. It is still a good amount of money considering the price of 1BTC.

However I was expecting some bull run to happen and allow to me to win some prediction games - I guess that will happen sometime later this weekend.

Happy halving!

[pakhitheboss]

^ Another year of Bitcoin Halving and another year of expectations. I did expected that the market will rally but expectations vs reality is real. I don't think that we will encounter another bull run this year. I may be wrong but I am definitely sure we will see a bull run next year.

I was partying yesterday while enjoying the IPL. I almost forgot today that the halving event is now completed, after noticing this topic. The next halving is going to happen in 2028. Let's keep our finger crossed for another big bull run.

[Bitcoin Smith]

So, the long awaited and expected Bitcoin halving event has now been officially completed. With this halving miner's reward has been reduced from 6.25BTC to 3.125BTC, which is kind of sad for the miners. Post, halving everyone is expecting a bull run either by the end of the year or next year. We already saw a short bull run at the beginning of this year due to Bitcoin ETF.

My question to you guys is what are your expectations from Bitcoin halving and when do you think the bull season will be coming back?

Initial thoughts, the block rewards decreased but total rewards in fees increased considerably and almost higher than 6.25BTC due to inscription spams on the bitcoin network which started in the name of Runes protocol by the one who developed BRC 20.

About the bull run, it is expected to arrive before this year and may last long up to first quarter of 2025 maximum.

[Bureau]

I was expecting the price of Bitcoin to go back to $70K after the halving but it seems to be stuck at $64K price level. April is almost over and we have another 8 months for this year to end. In most probable scenario another bull run might hit the market after June. A few altcoins ETFs are pending approval from SEC. So an alt season might be in the making before Bitcoin bull run. What do you guys think?

[pakhitheboss]

I was expecting the price of Bitcoin to go back to $70K after the halving but it seems to be stuck at $64K price level. April is almost over and we have another 8 months for this year to end. In most probable scenario another bull run might hit the market after June. A few altcoins ETFs are pending approval from SEC. So an alt season might be in the making before Bitcoin bull run. What do you guys think?

The Bitcoin halving event did not cause a spike in Bitcoin prices, but it did cause a spike in transaction fees. I am assuming that it never happened on such a large scale as it has happened in this halving. I do remember there was congestion in the network when the last halving event happened but I do not recall that transaction fees were hovering around $20 to $30. This is the first time after BRC20 tokens were introduced that spamming the network has been so bad and I expect it to continue for a few more weeks.

[kentrolla]

I really don't think there is a loss to miners or drop in their rewards as long as Bitcoin's value is higher, I was not expecting any bullrun till the end of this year and I was amazed even by the surge we have seen in last 6-7 months which was not expected. My plan would be to continue with the existing DCA and keep a track of market trend because during bull timing matters the most as you could miss rally by minutes, In short I am accumulating Bitcoin to sell it during peak and reinvest a part of it in altcoins during bullrun.

[pakhitheboss]

I really don't think there is a loss to miners or drop in their rewards as long as Bitcoin's value is higher, I was not expecting any bullrun till the end of this year and I was amazed even by the surge we have seen in last 6-7 months which was not expected. My plan would be to continue with the existing DCA and keep a track of market trend because during bull timing matters the most as you could miss rally by minutes, In short I am accumulating Bitcoin to sell it during peak and reinvest a part of it in altcoins during bullrun.

What you are assuming is a temporary phase and it has already died down due to the sudden crash of Bitcoin price. Before halving there was a Bitcoin bull run and the price of it shot up to $73K, when they were getting BTC6.25 for every block. Now, Bitcon price to a correction and it is now $64K when every block the miners mined is giving half of what they were earning.

There will be a decrease in the amount the miners are earning now. The only problem is that the spam of BRC 20 is still making them earn more in USD than they should earn. By the way, Bitcoin creator never thought that USD will be significant when he created it. It was all about Bitcoin and Satoshi, it was never about USD and Cents.

[Bureau]

I really don't think there is a loss to miners or drop in their rewards as long as Bitcoin's value is higher, I was not expecting any bullrun till the end of this year and I was amazed even by the surge we have seen in last 6-7 months which was not expected. My plan would be to continue with the existing DCA and keep a track of market trend because during bull timing matters the most as you could miss rally by minutes, In short I am accumulating Bitcoin to sell it during peak and reinvest a part of it in altcoins during bullrun.

Miner's rewards getting dropped will affect them for the next 4 years but if again the network is spammed by those shit coins then they will be making a good profit. That is the right strategy buy low & sell high to maximize the profit. The point is that we will see the next bull run is unpredictable everyone was expecting a bull run after ETF approval but, no one was expecting Bitcoin to create a new ATH. Accumulation is always a good strategy to generate good returns when the time is right to sell.

[Bitcoin Smith]

I really don't think there is a loss to miners or drop in their rewards as long as Bitcoin's value is higher, I was not expecting any bullrun till the end of this year and I was amazed even by the surge we have seen in last 6-7 months which was not expected. My plan would be to continue with the existing DCA and keep a track of market trend because during bull timing matters the most as you could miss rally by minutes, In short I am accumulating Bitcoin to sell it during peak and reinvest a part of it in altcoins during bullrun.

Miner's rewards getting dropped will affect them for the next 4 years but if again the network is spammed by those shit coins then they will be making a good profit. That is the right strategy buy low & sell high to maximize the profit. The point is that we will see the next bull run is unpredictable everyone was expecting a bull run after ETF approval but, no one was expecting Bitcoin to create a new ATH. Accumulation is always a good strategy to generate good returns when the time is right to sell.

Miners know what will be their rewards after halving so they might be prepared for what's to come, the inscription spams on the mempool is just extra bonus for them to enjoy their bullish season.

Since it's not more profitable for solo miners to mine Bitcoin so they should have been a part of mining pools to get any rewards.

[pawanjain]

So, the long awaited and expected Bitcoin halving event has now been officially completed. With this halving miner's reward has been reduced from 6.25BTC to 3.125BTC, which is kind of sad for the miners. Post, halving everyone is expecting a bull run either by the end of the year or next year. We already saw a short bull run at the beginning of this year due to Bitcoin ETF.

My question to you guys is what are your expectations from Bitcoin halving and when do you think the bull season will be coming back?

Even I think it will take near the end of the year for the bull cycle to return. From the previous cycles we can observe a similar pattern during the year end.
Mining rewards are destined to halve and miners already know that and this is why they are battling hard against each other to get those precious bitcoins.
I guess 3.125 BTC is still pretty good because with next halving the rewards will reduce to 1.5625 and then 0.781 from the halving next to it.
Just imagine, the mining rewards will be less than 1 BTC in the next 8 years. We have got 8 years to accumulate at least 1 BTC to stay among the top holders of BTC.