Only a few hours left until Bitcoin Halving 2024. It is the most important event in the crypto world every four years. A block that is part of the structure of the world’s most popular cryptocurrency, where the reward of each block will be split in half.

Everything happens as it does, but it has important consequences. This is the reaction of the main companies in the industry and what are their visions for the impact the halving could have?

Bitcoin miners will earn half. After 210,000 blocks, Bitcoin Halving is coming to check Bitcoin inflation. The real victims are miners. Their rewards will be cut in half and they are well aware of this. The solution is to invest in better machinery that will compensate for lower profits.

The most modern machines continue to compensate. According to this Pointed out by Charles GuillemetThis Halving caused Bitmain S21 to be sold out completely,” said Ledger’s CTO. These are mining machines released in March 2024, costing around $4,500, with a SHA-256 algorithm, a maximum hashrate of 200 TH/s and a consumption of only 3,500 W.

So, one of the most advanced machines for Bitcoin mining is completely sold out, which shows that despite the arrival of Bitcoin Halving, mining still attracts the attention of the industry.

In previous Halvings, the price increased rapidly. According to Chainaliz, Bitcoin Halving is expected to have a direct impact on the Bitcoin price. After 2012, its price increased from $12 to $1,000 in a year. In 2016, the price rose from $650 to $2,500 in a year, but rose to $19,700 in a year and a half. With the last Halving in 2020, the price increased from approximately $8,000 to $69,000.

So, even though the reward for each block is split, for example we now go from 6.25 to 3,125 BTC per block, it compensates as the price of Bitcoin increases.

Go to 100,000. As Bit2me CEO Leif Ferreira explained in a report on the Halving: “Halfing is a complex and uncertain dance between economics, technology and human behavior. Despite the difficulties in predicting its exact impact, one thing is clear”: Halving, cryptocurrency “It’s a very important moment for the ecosystem.”

In the same report, economist Pablo Gil said, “If Bitcoin finally repeats its behavior after the ‘fourth halving’ has passed, it would be reasonable to expect that its price could continue to rise towards the 90,000-100,000 level.”

Image: Binance

The market is now much more mature. As Chainalation analysts describe: “There is an unprecedented level of expectation.” The main reason for this was that, unlike other events, the main market players had already been doing and preparing for this Bitcoin Halving for a long time.

Javier García de la Torre, Director of Binance Spain and Portugal, explains along the same lines: “Historically, Bitcoin has experienced significant price increases in the six months following each Halving.” Additionally, this year also added the factor of Bitcoin ETF approvals, which increased demand and helped expand the reach of the cryptocurrency. Although he warns that those potentially interested in cryptocurrencies should inform themselves before making any moves. A common recommendation when it comes to assets with extreme volatility.

For Mireya Fernández, Bitpanda’s Country Leader for Southern Europe, this is in line with the maturity of the market. And “precisely because of this maturity, no We hope that the effects of this event will be appreciated immediately.” For this 2024 Halving, “we have reason to think that the effects will have nothing to do with the halving.” FOMO or bull run “We have experienced these moments before as we witness the maturity period of digital assets,” he said.

We are a few hours away from this cyclical phenomenon, but if the predictions are correct, it will definitely take months to see its effects.

Image | Michael Fortsch