Bitcoin (BTC) is on the brink of its fourth-ever halving event, which is scheduled to occur on April 20 when the block height reaches 840,000. Bitcoiners around the world are preparing to celebrate this significant milestone, hoping that it will trigger the next crypto bull run.
Various events, both virtual and physical, are being organized to commemorate the halving. BITC0IN’s Discord and YouTube channel, with 68,700 subscribers, will host a live stream where Bitcoin enthusiasts can reflect on the past four-year cycle. Attendees will have the opportunity to speak at the event, and there will even be simultaneous poker games. Professional trader Oliver Velez is hosting a private online Bitcoin halving party with 2,000 guests, starting just before the 840,000th block is mined.
Crypto exchange Kraken is also hosting a livestream for the halving, featuring well-known Bitcoiners such as Dave Portnoy, Jack Mallers, Dylan LeClair, Anthony Pompliano, and Pete Rizzo. Philippines Bitcoin payments app Pouch is hosting an online halving party, encouraging Bitcoiners to invite their friends. Additionally, Cointelegraph has a countdown on its homepage for those who prefer a simpler approach.
For those who want to witness the 840,000th block being mined, blockchain explorer websites like BTCScan or Blockstream can be visited. There are also physical halving parties taking place around the world, including one in Switzerland hosted by the founder of Swiss crypto broker Bitcoin Suisse, and another in Brisbane, Australia, sponsored by Binance.
As for what will happen after the halving, analysts believe that there won’t be an immediate impact on Bitcoin. Karl Mohan, Crypto.com’s Asia and Pacific general manager, suggests taking a broader perspective and not expecting significant changes until the end of the year. Other analysts advise against worrying about short-term volatility and recommend focusing on the long-term potential of Bitcoin.
Following the last halving in May 2020, Bitcoin’s price experienced a 5% dip one month later but surged by 180% by the end of the year. Some crypto leaders anticipate a sell-off by Bitcoin holders after the halving, similar to what happened when the Bitcoin ETF was announced earlier this year. However, others believe that the market has evolved since the last halving, and factors such as regulatory developments and technological advancements could lead to different outcomes this time.
Overall, the Bitcoin halving is an eagerly anticipated event in the crypto community, with celebrations and speculations surrounding its potential impact on the market. While the immediate effects may not be significant, many are optimistic about Bitcoin’s future and its potential to reach new price milestones in the coming years.