Bitcoin Halving Countdown Nears 2028 As 94,892 Blocks Remain

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What to know:

  • Bitcoin halving countdown has 94,892 blocks remaining, with the event expected in early 2028.
  • The next Bitcoin halving will cut block rewards from 3.125 BTC to 1.5625 BTC.
  • Bitcoin trades near $63,635, below major moving averages, signaling continued bearish conditions.

Bitcoin halving has entered a new phase, as less than two years are left until the fifth Bitcoin halving, which will see a decrease in Bitcoin supply creation. It is likely to have a major impact on the upcoming market cycle due to a reduction in miners’ incentives.

According to the information provided by Maartunn of CryptoQuant, the current block number of Bitcoin is 955,108. There is a need to mine 94,892 more blocks to reach the next Bitcoin halving point, which is Block 1,050,000.

As for the rate at which blocks are mined, with each one being mined every ten minutes, the rest of the countdown will be approximately 659 days, which is around 1.8 years. Going by this trend, it is likely that the halving will occur in early spring of 2028.

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When Bitcoin’s halving occurs, the reward per block will go down from its current value of 3.125 BTC to 1.5625 BTC.

Also Read | Questions Arise in Georgia Over Unregistered Virtual Asset Providers Following a Cryptocurrency Arrest

Bitcoin Halving Countdown Continues Near $63,600

The countdown starts amid a time of notable price weakness. Bitcoin is trading at $63,635, which is below the 20-SMA at $69,104.32, 50-SMA at $82,486.52, and 100-SMA at $88,732.30. Currently, the coin is just below the 200-SMA at $64,000.91. This implies that the overall moving average ribbon is still bearish, and any price rally above these averages will indicate a better recovery.

Currently, the RSI stands at 39.62 and its signal line at 39.36. This means that currently, there is still no strong buying momentum in the market. Although the RSI is below the 50 level, it is still above the oversold territory of 30. This shows that currently, the selling pressure is not yet excessive.

Traditionally, investors have been known to begin holding Bitcoin even before the occurrence of a Bitcoin halving event, all because of the assumption that lower supply levels can foster better demand conditions.

However, the problem posed by Maartunn is what will happen if investors attempt to beat others who intend to purchase early?

Investors Could Move Earlier Ahead of Bitcoin Halving

As the Bitcoin halving dates are public information, there is enough time for market participants to plan. Some may try buying sooner than before in order to get an edge over other people.

There are more than two years left until the next Bitcoin halving, and Bitcoin is trading at around $63,600, but future changes in the supply could affect investments already.

Should investors start positioning themselves ahead of time, the usual timing of the pre-halving rally may become hard to recognize. Rather than following its conventional pattern, Bitcoin may experience a gradual buildup of demand over a very extended period of time.

It is still uncertain whether the early positioning would affect the historical cycle of Bitcoin. Next year may reveal much about the market’s reaction to the approaching Bitcoin halving in 2028.

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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.



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