Read more from the Corner of the Eye! – L’Expresso du Coin, the series dedicated to those in a hurry. Lightning-fast reading for beginners and experts alike, to keep you entertained over a cup of coffee. Small stories, crypto vocabulary and news to educate yourself while having a good time. In today’s Expresso, we’re going to talk about an event that happens every 4 years and sets the pace for the crypto ecosystem: the Bitcoin halving.
History around the corner
April 26, 2024, D-Day
9 a.m., an article on the Journal du Coin
« …the long-awaited day has arrived. Today is the famous halving of Bitcoin. A symbolic event that only takes place every 4 years. And it’s all the more symbolic on this April 26, 2024, because BTC has just passed the famous 6-digit mark. The price of BTC now stands at $102,624 per unit. A historic day… «
June 30 2024, two months later
5pm, a tweet from the Journal du Coin
« …BTC price has been falling non-stop since halving. Investors are worried, even frustrated.
– Bitcoin has become rarer, but its price keeps falling?
– I don’t understand anything anymore. Bitcoin no longer works?
… the public is wondering. Is the bull run over before it begins? »
April 24, 2025, one year later
8am, an article on the Journal du Coin
« … after one year of bearmarketthe express and explosive bull run of 2023-2024 took all investors by surprise. In this unprecedented fourth cycle, Bitcoin’s halving did not mark the beginning of the bull run, but the end of the bull run. A crushing blow that investors are still struggling to digest, even a year later… «
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Dans un Coin de la tête – Halving
The halvingor halved in French, is an event irrevocably inscribed in the Bitcoin protocol code. Every 4 years, the quantity of bitcoins, issued every 10 minutes after each block validation, is halved.
From 2009 to 2012, 50 bitcoins were issued for each block. On November 28, 2012, this figure was reduced to 25. Then on July 9, 2016, the number dropped to 12.5. Since May 11, 2020, just 6.25 BTC enter circulation every 10 minutes. And from now on from an estimated date close to April 26, 2024this number will be further halved to 3.125.
Each reduction in bitcoin issuance a few months later caused the price to soar, adjusting to its new rarity. A similar phenomenon could occur during the next halving. However, with the halving becoming less and less pronounced, it’s not impossible that the impact of halving on bitcoin’s price evolution will eventually diminish, if not disappear altogether.
This halving will continue every 4 years until 2135, reaching a total number of BTC issued of 21 million units.
Stay in the Corner!
If there’s one person who takes a positive view of halving, it’s… Michael Saylor. The head of MicroStrategy accumulated bitcoins like crazy since 2020 to reach a total of 152,000 bitcoins acquired at an average price of nearly 30,000 per unit. With halving and the associated rise in the price, it’s likely that within a year, the Saylor strategist will be in the win column for good.
By now, all investors are familiar with the halving process, the rhythm of bitcoin’s price evolution. It would therefore not be impossible for this cyclicality to be disrupted in the future. On the other hand, going from 50 BTC issued per block to 25 in 2012 has a big influence on bitcoin’s scarcity indeed. However, going from 6.25 to 3.125 BTC, as will be the case in 2024, has far less influence. In the long term, therefore, bitcoin’s cyclicality is likely to be a memory of the past, an intrinsic characteristic of bitcoin. of its early years.
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