If you’re a novice crypto trader – not to mention seasoned ones – you must have heard about Bitcoin halving.
How to track this event? Nobody can predict the exact moment, unlike in the forex and equities market, where countries and companies announce their decisions in advance.
Bitcoin Halving: A Reminder
In case you missed it – Bitcoin Halving will happen this year on 99,9 percent.
Check out why this event matters and its impact on trading.
How To Track Bitcoin Halving? Focus On Blocks!
This unusual – in terms of traditional trading, based on centralized assets – the crypto market has an essential technology due to which it functions in this unique way. Blockchain forces every member of the BTC ecosystem, including miners and traders, to constantly develop.
If you want to know how to track Bitcoin halving, focus on blocks rather than time.
This event will happen after reaching a certain number of blocks mined and spread into the crypto ecosystem. The magic number is 840,000. After reaching this exact number, the Bitcoin halving will occur, regardless of the day, month, or year.
Can You Predict WHEN It Will Happen?
It depends on how exact you want to be. As shown above, it is impossible to predict the exact moment of Bitcoin halving. Due to the difficulty adjustment mechanism, a block is not mined exactly every 10 minutes but approximately every 10 minutes.
However, we can look at the history of BTC to see a repeating pattern in terms of timing. After Bitcoin’s introduction in 2009, there were three halvings: in 2012, 2016, and 2020. Even a non-scientific mind can notice the pattern here. Every four years, the amount of BTC blocks necessary to the halving event reaches that magical border. It may happen, well, in May, but also in April 2024. That’s why traders tracking this event should remember that it will happen after mining 840,000 blocks.
If you want to know how to track Bitcoin Halving, stay updated with the SimpleFX platform!
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