🅱️ Bitcoin Halving 2024 | Visiting $55,555 $44,444 and $33,333

AlanSantana Updated   
The Bitcoin 2024 Halving is only 5 days away —according to CoinMarketCap— and this is truly a major event in this market. Bitcoin's halving has a huge effect on the entire Cryptocurrency market in a positive way.

The halving is something good and was implemented as a strategy/feature/solution/technique to fight the highly feared and polarizing monetary inflation that we see all across the world with conventional fiat currencies and CBDCs. Bitcoin is rock solid and has been growing since day one.

The Bitcoin halving has no real immediate effect.

The only change that is implemented within the system is a reduction of the total number of Bitcoins minted each time a new block is mined. The minted Bitcoins and transaction fees are distributed to the winner of the block reward; the miner that solved the highly complicated and convoluted cryptographic hash-puzzle. They have literally millions of computers working as calculators to solve computer riddles, to organize codes. Welcome to the future!

Money is now digital and as with everything, digital money comes and go!

How are you protecting your money?
Are you aware that Bitcoin is going down rather than up?

👉 Bitcoin is growing and has been growing forever. Bitcoin is growing and has been on a growth trajectory for as long as we can remember. Bitcoin is going up.
Bitcoin is growing, it will keep on growing for sure but it doesn't move straight up. The signals are in; three weeks red, break below EMA10. The 2024 Bitcoin halving will lead to a major correction but this correction ends in a higher low and we continue growing in 2024, 2025 and beyond.

Patience is key.

Take profits or not?

You do whatever is best for you.
You do what works for you...

Experience, wisdom, knowledge and charting can help you choose what is best and what works.

Five hours later, only two days left for the halving.

Incoming sell-off?

A very large amount of Bitcoins have been transferred to Binance...

"🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 16,276 #BTC (1,006,601,602 USD) transferred from unknown wallet to #Binance"

We wait in suspense for the halving event.
It seems all the sell orders will come in together at once.
It is as if the whales are loading up all of their accounts, in preparation, in concert and when people least suspect the event will start. Not the halving but the sell-off.

The chart remains bearish.
The daily candle closed with no change; the bias remains 100% bearish for the short- to mid-term.

The weekly session stays the same and remember the monthly analysis; the month is already red and set to close red but for the closure we still have 12 days left. What will happen in those 12 days?

Here is another bearish signal: There are no bullish signals short-term.
Look at any timeframe, no reversal signals, no high volume buys, no huge upwards volatility, nothing.

Overall, the BTCUSD continues aiming lower.

Huge bullish candle on the daily timeframe...
The problem? The day is not yet over.

Watch how this whole move turns into a liquidation move and the market resumes in the same direction it was headed yesterday.

These market moves happen because many people went 20-30X SHORT at around 60-62,000 (wrong move).

A move to $66,666 would liquidate all over-leveraged rookie traders, all those selling SHORT at support rather than resistance and with 20/30X Lev. rather 3X as the risk entails.

When these people are liquidated, down we go!

Note: If Bitcoin closes the day above $66,600 (12 hours from now) this would definitely become a very strong bullish signal. Closing below = bearish.
"The last Bitcoin halving happened on Apr 19 2024, 20:09:27"

No change on the chart/Bitcoin's price.
We will track it and share an update if anything changes.

Patience is key!

🅱️ WHY MINING? Just Print More Bitcoins...

When I first learned about Bitcoin and Cryptocurrencies, one of the main concerns was centered around mining.

People were really afraid because of the energy consumption. Some people were worried that mining would be the end of the world because of global warning and all those things. Real worries I should say.

Some years later a volcano blew up sending trillions of tons of CO2 into the atmosphere. The thing went on for months, the sky turned black and many people went through a really hard time... Nobody cared about global warning at this point.

The good news is that the volcano gave us a lesson: Bitcoin mining doesn't matter because, if we can survive the trillions of tons of CO2 emitted by volcanos every single day, then we can survive the negligent amount of energy consumed to produce Bitcoin... But why is this a problem in the first place?

I shall explain.

Bitcoin is a solution.
Bitcoin is the solution to a problem.

The intention in the creation of Bitcoin was to create a type of money that is deflationary.

Without going too deep into economics, let's just say that a large portion of the global population is no longer happy with fiat currencies and CBDCs because they are inflationary currencies. Meaning that their supply can always be inflated and thus the value of the currency tends to decrease over time. This decrease in the value of the currency as its supply increases results in an increase in the price of the things we buy on a daily basis, which we call inflation; we all hate it.

The solution is Bitcoin.

Now, FIAT money is inflationary because it requires no energy to produce, no effort, it can be created out of thin air so in a way, it has no real value. It only has the value we give it and give it value and that's great. This value comes by decree.

Bitcoin requires energy to produce on purpose.
Bitcoin requires capital to be minted on purpose.

In this way, any and every single Bitcoin that is created has real value; and this value is the energy, money, effort —mining— that was put into producing this good.

Since it takes time, money and energy to produce this good, it cannot lose value easily. It cannot be easily inflated.

At the same time, we have this feature on the system called the halving, which reduces the amount of Bitcoins that are created every 10 minutes. So each time you have less Bitcoins being produced but it still requires energy to be produced and thus its price tends to increase rather than drop.

Since we have less Bitcoins...
Since it has a fixed supply...
The currency is programmed to maintain its value overtime or even rise.

The highly energy consumption process needed to create Bitcoin is not a problem but rather a feature in order to protect Bitcoin's value. It is a fail safe mechanism so that no individual player or participant can increase the currency supply, and thus decrease its price, when they have bills to pay.

Make it worth something, in this case energy/electricity and thus money, and since it has real value, it can never be created out of thin air.

In order to create Bitcoin you need energy.
Bitcoin is virtual energy.

Bitcoin is physical and spiritual (electricity) energy that is now available for us to transfer instantly through the Internet.

Bitcoin is the present of money.
Bitcoin is here to stay.

I will do a better job at trying to explain myself next time but I hope you understand.

Do you agree?
Are you holding Bitcoin now?

Thank you for reading.


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