The last Bitcoin halving took place in April when the block reward dropped from 6.25 Bitcoin to 3.125 Bitcoin
\nJesse Myers said Bitcoin\u2019s price needs to go higher for a \u201csupply-demand price\u201d balance to happen
\nWhen that occurs, the market will \u201cflywheel into mania and a bubble,\u201d which happened in the 2012, 2016, and 2020 Bitcoin halving events<\/p>\n
Donald Trump\u2019s re-election into the White House isn\u2019t \u201cthe main story\u201d for Bitcoin\u2019s recent price rally, says Onramp Bitcoin\u2019s co-founder.<\/p>\n
In a post on X<\/a>, Jesse Myers said the main reason is that the market is at the \u201c6+ months post-halving\u201d mark.<\/p>\n Taking place every four years, the last Bitcoin halving occurred in April when the block reward dropped from 6.25 Bitcoin to 3.125. As a result, each new block becomes harder to solve with a lower reward.<\/p>\n A reduction in Bitcoin supply typically means an increase in the price of Bitcoin<\/a>. The next Bitcoin halving is expected to occur sometime in 2028.<\/p>\n According to Myers, a \u201csupply shock has accumulated,\u201d meaning \u201cthere\u2019s not enough supply available at current prices to satisfy demand,\u201d adding that a \u201csupply-demand price equilibrium must be restored.\u201d<\/p>\n However, the only way Myers believes this will happen \u201cis for the price to go higher, which will flywheel into mania and a bubble, but that\u2019s how this thing works.\u201d<\/p>\n Supplying a chart, Myers indicated that the market is currently at the start of the post-halving bubble. Based on his data, Bitcoin\u2019s price will continue its upward trajectory before peaking to new highs and dropping to current levels.<\/p>\n Jesse Myers\u2019 Bitcoin post-halving chart. Source: Jesse Myers<\/a><\/p>\n \u201cIt sounds crazy to say there will be a reliable, predictable bubble every 4 years,\u201d said Myers. \u201cBut then, there\u2019s never been an asset in the world where new supply creation is halved every 4 years.\u201d<\/p>\n Post-halving bubbles happened in the 2012, 2016, and 2020 Bitcoin halvings, said Myers.<\/p>\n The recent Bitcoin price rally comes amid Trump\u2019s<\/a> re-election into the White House. Based on his campaign trail in the lead-up to election day, Trump came across as pro-crypto compared to current Vice President Kamala Harris.<\/p>\n Last week, Senator Cynthia Lummis also reaffirmed plans<\/a> that the US is going to build a strategic Bitcoin reserve. If passed, the senator\u2019s Bitcoin Act would propose directing the US Treasury to buy one million over the next five years.<\/p>\n The post Post-halving 2024 market is pushing Bitcoin\u2019s price, not just Trump, says Onramp Bitcoin co-founder<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The last Bitcoin halving took place in April when the block reward dropped from 6.25 Bitcoin to 3.125 Bitcoin Jesse Myers said Bitcoin\u2019s price needs to go higher for a \u201csupply-demand price\u201d balance to happen When that occurs, the market will \u201cflywheel into mania and a bubble,\u201d which happened in the 2012, 2016, and 2020 […]<\/p>\n","protected":false},"author":0,"featured_media":1832,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-1831","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin"],"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/1831","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=1831"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/1831\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/1832"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=1831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=1831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=1831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Post-halving bubbles<\/h2>\n