Bitcoin

April

when

Security

Safety

<h2 id="key-points">Key Points</h2>
<ul>
 <li>The scheduled ‘halving’ event for Bitcoin mining rewards is set to occur around April 17, 2024, creating a sense of anticipation and uncertainty.</li>
 <li>The months leading up to this event have witnessed the approval of the first-ever spot Bitcoin exchange-traded funds in the US and a record Bitcoin price of $73,679.</li>
</ul>
<p>The rewards for mining <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> are soon to be halved in a pre-planned event known as “the halving.”</p>
<p>This measure against inflation is expected to take place around April 17, 2024.</p>
<p>Despite not being the first halving event, the current high prices and crowded mining field add an element of unpredictability to what could be a significant day in the history of digital currency.</p>
<h2 id="preceding-the-halving">Preceding the Halving</h2>
<p>In the run-up to the halving, the US approved the first-ever spot Bitcoin exchange-traded funds.</p>
<p>Additionally, Bitcoin reached a new record price of $73,679 on March 13, 2024.</p>
<p>The price trajectory after the April halving event is uncertain, with no guarantees.</p>
<p>However, past halving events can provide some insights into potential outcomes.</p>
<h2 id="historical-halving-prices">Historical Halving Prices</h2>
<p>The first Bitcoin block was mined with a reward of 50 BTC on January 3, 2009.</p>
<p>The reward was reduced to 25 BTC per block during the first halving event on November 28, 2012, when BTC was valued at $12.20.</p>
<p>Following the first halving, BTC’s price surged from $12.20 to around $1,000 by the end of 2023.</p>
<p>The second halving event occurred on July 9, 2016, reducing the mining reward to 12.5 BTC.</p>
<p>At that time, Bitcoin was valued at approximately $640, and by July 2017, it had risen to $2,550.</p>
<p>The most recent halving event on May 11, 2020, reduced Bitcoin mining rewards to 6.25 BTC per block.</p>
<p>Bitcoin was trading for about $8,750 at the time.</p>
<p>Within a year, Bitcoin reached an all-time high of around $62,000.</p>
<h2 id="the-2024-halving">The 2024 Halving</h2>
<p>The upcoming halving in mid-April has led to record levels of speculation and Bitcoin price.</p>
<p>Predictions range from around $75,000 just after the halving to $250,000 or more within a year of the event.</p>
<p>While history shows that BTC’s price has generally soared in the year following halving events, there have been periods of downturn and stagnation in the intervening months.</p>
<h2 id="concerns-over-network-security">Concerns Over Network Security</h2>
<p>Apart from price concerns, questions about network security in the post-halving world remain unanswered.</p>
<p>There are potential security risks due to the possibility of smaller miners being forced out of the market as rewards are halved.</p>
<p>This could lead to fluctuations in mining availability, reducing hash rates and overall security.</p>
<p>However, previous halving events have had minimal impact on overall network security, and many analysts predict a smooth transition for the network itself.</p>

Post-Halving Bitcoin: Predictions for Price and Network Safety in the New Landscape

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