Having previously taken place in 2016 and 2020 the upcoming halving event is anticipated for 2024. This recurring cycle significantly influences market dynamics and investor sentiment, towards Bitcoin. Historically whenever Bitcoin has gone through a halving event it has resulted
in a rise in its price. For example, after the 2016 halving event, the market responded within a year by exponentially increasing the value of bitcoin to its peak value of $19,000 on December 17 of 2017. The next halving event in 2020, like the previous one, did not cause an immediate market reaction, but similarly bitcoin more than tripled in price by the end of 2020. In December 2020, Bitcoin was worth over $28,000.