Bitcoin Halving : Is BTC Halving A Gift To Altcoins?

The Bitcoin halving will have an effect on altcoin performance in addition to BTC, either favourably or unfavourably. Let’s examine the circumstances.

 

 

For Bitcoin, the impact of the halving is evident, but for altcoins, it is difficult to forecast. The idea of a Bitcoin halving was intentionally established by its creator, Satoshi Nakamoto, to address the currency’s issues with inflation and network demand.

 

But he never would have predicted how the halving of Bitcoin affects altcoins. Let’s talk about whether the performance of the altcoin is improved or worsened by the Bitcoin halving in this blog post.

 

 

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Bitcoin Halving’s Effect on Altcoins

 

To assess the effects of Bitcoin halving, many things must be thought about. Predicting how cryptocurrency prices will go after a halving depends on a number of elements, including tokenomics, market sentiment, token demand, community support, and unique selling points.

 

 

 

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Sentiment in the Crypto Market

 

The market’s optimistic or bearish sentiment is heavily influenced by Bitcoin, which is why the cryptocurrency is so important. At the moment, it has reached a three-year high and is known as Bitcoin Dominance.

 

The current fear and greed index reading is 55, which is in the middle of the fear zone and the greed zone. Once again, following months of strong sentiment, the market has entered a correction zone.

 

Bitcoin reached a new all-time high of $73,750.07 over these months of optimistic sentiment. Right now, the entire cryptocurrency market is falling since the price of Bitcoin has fallen by around $61,000.

 

The correlation between this and Bitcoin’s halving history suggests that the former causes a bull run, which in turn boosts the altcoin market.

 

The cryptocurrency market and investor mood are bullish on the prospect of an altcoin explosion in the near future.

 

 

 

 

 

 

Changes in Altcoin Prices

 

When Bitcoin’s value changes, altcoins like Ethereum follow suit. Just like Bitcoin, Ethereum’s price has fallen and is now trading at $2,973.08. When the price of Bitcoin booms after the halving, a similar surging trend may occur.

 

 

 

 

 

 

When comparing the 2016 second halving to the conditions of the first halving, there was little to no change in pricing. Although Bitcoin’s price was steadily increasing over the first half of the year, Ethereum’s price remained relatively stable at $12 to $15.

 

With Bitcoin and Ethereum both seeing price surges that would culminate in all-time highs in November 2021, the third halving of May 2020 was significantly different from the second.

 

In the case of Solana, as with the majority of cryptocurrencies, the same holds true. Solana caters to a distinct demographic of meme coins and operates in its own unique ecosystem. Its intended function is to function separately from all other networks. However, it is evident from comparing Bitcoin and Solana graphs that the two cryptocurrencies’ price movements are quite similar.

 

 

 

 

 

After suffering a 35% decline in a month, Solana is currently trading at $130.92, a correction zone.

 

 

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Major Factors Driving Previous Halving Surges

 

 

Following Bitcoin’s half six months earlier, the price of Ethereum began an upward trend at the time of the second halving. This changed when the concept of an Initial Coin Offering (ICO) was introduced. Therefore, ICO, not halving, was the primary factor propelling the spike in Ethereum.

 

Similarly, because to the ongoing COVID-19 pandemic, interest rates were zero for the third halving of Bitcoin in 2020. So, even back then, the altcoin price needed some external economic factor to propel it.

 

 

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Does the Bitcoin Halving Benefit Altcoins?

 

 

Altcoins’ pricing history during previous halvings and comparable economic events in 2024 suggests that their price might skyrocket. In 2024, the post-halving bull run will be supported in large part by financial reasons such as the Ethereum ETF, US inflations, and stronger crypto laws.

 

It should be mentioned that there are numerous additional factors that can affect the value of altcoins. Consequently, this bull run’s timeline can differ from its predecessors.

 

There was no quick post-halving bull zone in Bitcoin, even according to the historical charts. The intended market can’t materialize until it determines how long altcoin investors must hoard their coins.

 

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How to Trade Bitcoin Futures on BTCC?

 

 

Now you can trade BTC on  BTCC. BTCC supports a diverse selection of cryptocurrencies for trading. This includes popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and others. BTCC also offers products such as crypto, gold, and tokenized stocks to help investors rationally allocate their assets.

 

1. Register an Account

 

Join BTCC now and get up to 10,055 USDT when you deposit and trade. Click the button below to sign up now.

 

 

2. Deposit Funds

 

Once your account is set up, you’ll need to deposit funds into your BTCC account. BTCC may offer various deposit methods such as bank transfers, cryptocurrency deposits, or other payment options. Choose the method that works best for you and follow the instructions provided to deposit funds into your account. BTCC mainly offers USDT margin and future trading. Therefore, you need to buy USDT  before trading.

 

 

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3.How to trade BTC?

 

Here are the steps to trade BTC on BTCC

 

1) First, tap “Futures” on the website homepage

 

 

2) Select a product you would like to trade from the list here. BTCC currently offers daily and perpetual futures

 

 

 

3) Check time to settlement.  The settlement time of these futures type is different, you can check the time for settlement for each product here.

 

 

 

 

4) After choosing product, you can decide whther you would like to buy or sell it.  You only need to own USDT to trade USDT-margined futures.  That is to say you can sell BTCUSDT futures without owing any BTC Coin.

 

 

 

5) Then select your order type, and choose your leverage.

 

 

 

 

If you choose Limit or SL/TP order, you will need to enter your order price here.

 

 

 

Enter the quantity or choose the percentage under the quantity field.

 

 

 

 

You can also set up stop loss or take profit targets to limit losses or maximise earnings.

 

 

 

 

6)After everything is set up, Buy or  Sell to play your order. A confirmation window will show up,  check if all info is correct and click [Confirm] to open the position.