$BTC Price Analysis: New Halving Shows Weak Market Response - CoinPedia Analytics

Irma - Sep 3 - - Dev Community

Bitcoin halving events, which reduce the rate at which new Bitcoin is created, have historically led to price increases. However, the latest halving on April 19, 2024, seems to break this trend. Currently, 136 days post-halving, Bitcoin is priced at $59,025.63, a 7.44% drop from $63,770 on the halving day.

In contrast, past halvings showed substantial gains: the first halving in 2012 saw a 376% increase, the second in 2016 had a 14.76% rise, and the third in 2020 resulted in a 25.61% increase. If the latest halving had followed these trends, Bitcoin could be much higher today.

Overall, the recent halving has not spurred the expected price surge, challenging the belief that halvings are guaranteed price boosters.

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