The day has finally arrived: Bitcoin halving is about to happen

Bitcoin (BTC) halving has been the main topic in the entire crypto industry for weeks, now.  In fact, it has been making headlines since 2019. Although, it did temporarily lose a fair bit of attention due to the coronavirus pandemic that struck the whole world.

However, as the day of the halving approached, the attention came back at full swing, and the industry is very excited due to the event.

Bitcoin halving is coming: Are you ready?

As most people who know anything about anything in the crypto industry, the halving is the process that will cut Bitcoin block rewards in half. This is the third time that this will happen to the world’s first and largest cryptocurrency.

The event is expected to take place some 10 hours from the moment of writing. Meanwhile, there are all kinds of expectations in the crypto industry.

The halving is a major event that will help shape the future of Bitcoin. As such, it is expected to have a massive impact on the coin’s price. After the previous two halvings, the Bitcoin price surged tremendously, with the surge following the second halving taking the coin to $20k.

Naturally, many expect it to happen again. It also makes sense for it to happen, as the inflow of new Bitcoins into circulation will get cut in half, also. Finally, Bitcoin adoption is growing, institutions have started investing in it, although still rather hesitantly, and the coin showed strength during a global crisis.

However, it is still very volatile, and very unstable. It cannot scale, and its network is pretty much the slowest in the industry. Because of its shortcomings, many believe that Bitcoin will not repeat its historic post-halving surge.

So, those who remain optimistic about it decided to buy Bitcoin. Meanwhile, others have sold their coins, which led to a minor price drop over the last few days. In the last 24 hours, the price dropped to $8,407, before surging back above $8,700.

At the time of writing, the price sits just below this level, once again blocked by $8.8k resistance. Right now, it is at $8.624, after attempting to break the mentioned resistance, which only rejected it.

A drop before growth?

Of course, the mentioned bull run is likely not going to start right away. Judging from the past two halvings, it might take months before the movement starts. In fact, immediately after the halving, it is very likely that a significant price drop might arrive. If it happens, it is important for investors not to panic. It is a usual response, although only a temporary one.

At least, that is how it used to be, which is why it is expected. In truth, the price could go either way, and it is difficult to predict, as Bitcoin wasn’t nearly as famous and used four years ago as it is today.

So, it might not follow the same path as it did before. Even so, every Bitcoin trader will have an opportunity to earn profits by making quick trading decisions and using the upcoming price changes. It is very unlikely that the price will sit still for long, and whether it will go up or down after the event takes place has yet to be seen.

All that is known at this point is that the past two halvings brought incredible price growth after a while. There is no known reason for BTC to act differently this time. You should read more about the past two halvings in the remaining time, simply to better prepare yourself and know exactly what to expect.