Bitcoin Halving 2024: Crypto Casinos Prepare

As the upcoming Bitcoin Halving event comes closer, the whole crypto sphere is getting ready. The event which takes place every four years brings in new scarcity and triggers price volatility. In anticipation of this event, crypto casinos are gearing up to delight gamblers with an array of enticing promotions and offerings.

Past Halving Events and Their Impact

Much of BTC’s past price history has been centered around Bitcoin halving. Even though we can debate the impact of the event, none can deny that each halving cycle follows a pattern similar to the previous ones.

The principle of supply and demand is the most straightforward way to describe Bitcoin halving events on prices. Since the volume of Bitcoins is halved, the price automatically rises to ensure that the demand increases or stays constant. Additionally, miners getting half as much Bitcoin to sell reduces the overall selling pressure.

The first-ever halving took place in November 2012 and it reduced the block reward from 50 BTC to 25 BTC. At the time of halving, 1 BTC was around $13. The following year, it peaked at around $1,152.

By the second halving event in July 2016, the block reward was reduced to 12.5 BTC. The price at the time was $664 but peaked at $17,760 the next year.

The next halving took place during the COVID-19 pandemic but that didn’t stop it from having the same effect. It occurred on May 11, 2020, and the block reward was reduced to 6.25 BTC. In 2021, BTC price peaked at $67,549.

Predictions for the 2024 Halving

Naturally, the whole crypto space expects another surge in the price of BTC in the coming year even as the next halving approaches. There have also been some nice predictions from experts and industry stakeholders.

For example, CoinCodex expects the price to peak above $170,000 in 2025 before it drops again to around $95,000 to $100,000. At the same time, BitQuant thinks a new all-time high record will be set during the pre-halving rally and that the price could peak over $250,000 post-halving.

What It Means for Crypto Gamblers?

The 2024 Bitcoin Halving event is scheduled for April and the block reward will reduce to 3.125 BTC. Crypto players can expect an exciting ride.

As BTC casino players, it could be a call to store more Bitcoins. Most crypto casinos will also offer plenty of exclusive BTC bonuses. There’ll be huge welcome offers, reload bonuses, no-deposits, free spins, and many others. All these provide you the chance to rack up more BTC while expecting a potential surge in prices.