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I started writing this story about why Bitcoin might reach 50,000 on Sunday, February 11th. On February 12th, Bitcoin had already passed the 50,000 milestone before I could even find the time to finish writing this story.</p><figure id="da42"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/1*[email protected]"><figcaption>Screenshot by Author of Bitcoin cryptocurrency at more than 50,000</figcaption></figure><p id="59d6">I will make sure to write a story about why Bitcoin passed the 50,000 mark soon after this story is published, so stay tuned for more Bitcoin and cryptocurrency stories coming soon this week.</p><h2 id="83ee">What is in store for Bitcoin’s future after the 2024 halving</h2><p id="aca6">It’s extremely likely that after Bitcoin goes through its halving, the price of Bitcoin will rise like it did after 2020, when it reached $68,000. This does not mean that Bitcoin will rise to the same price that it did in the past. All that investors can know is that Bitcoin likely will increase in price; whether it’s a small increase or an incredible increase is hard to tell, but with how volatile Bitcoin is, it’s not impossible for it to reach the same level that it did in the past eventually or even more than its last all-time high.</p><p id="7053">If you found this story informative and want to continue being informed about business, investing, finance, and other topics, I highly appreciate your support already, and <b>if you want to continue reading these stories from me, you can subscribe to my page for free on Medium.</b></p><div id="676f" class="link-block"> <a href="https://felipeangelucci.medium.com/subscribe"> <div> <div> <h2>Get an email whenever Felipe Angelucci publishes.</h2> <div><h3>Get an email whenever Felipe Angelucci publishes

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. By signing up, you will create a Medium account if you don't already…</h3></div> <div><p>felipeangelucci.medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/0*QYtwaHVyJ4qMsAKD)"></div> </div> </div> </a> </div><p id="3c80"><b>You may also be interested in reading<i>:</i></b></p><div id="269b" class="link-block"> <a href="https://readmedium.com/s-p-500-reaches-5000-for-the-first-time-in-history-45ff0bbfe078"> <div> <div> <h2>S&P 500 Reaches $5000 for the First Time in History</h2> <div><h3>Will the S&P 500 reach any higher all-time highs in the stock market? Or is there a grim future ahead?</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/0*3DLIRoWch5WUDFTV)"></div> </div> </div> </a> </div><div id="1208" class="link-block"> <a href="https://readmedium.com/tesla-recalls-2-million-cars-50-of-teslas-in-u-s-over-a-tiny-mistake-50290e07cce9"> <div> <div> <h2>Tesla recalls 2 Million Cars — 50% of Teslas in U.S. — Over a Tiny Mistake</h2> <div><h3>This tiny mistake that the NHTSA discovered will cause Elon Musk a headache to fix and some points lost for Tesla…</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/0*dTIU2ZjNHgacIslT)"></div> </div> </div> </a> </div></article></body>

BITCOIN CRYPTOCURRENCY | ILLUMINATION’S MIRROR

Bitcoin Shows Potential to Reach $50,000 in 2024

Will Bitcoin reach $50,000 in 2024? It seems to be likely. The next Bitcoin halving is soon, and it might cause Bitcoin to pass its milestone.

Photo by André François McKenzie on Unsplash

Bitcoin, the king of cryptocurrencies, is edging closer to reaching $50,000 in 2024, which will bring it closer to potentially being valued the same as its all-time high in 2021 at $68,000.

The next time the Bitcoin halving will occur is in April 2024, around April 19th. In Bitcoin’s history it has always shown that Bitcoin has grown in value after each halving it went through.

The new reward for mining bitcoin will be cut in half from 6.25 BTC to 3.125 BTC.

What a Bitcoin Halving is

A Bitcoin halving is when the reward for mining Bitcoin using computers is cut in half every four years.

The Bitcoin cryptocurrency has always gone through halvings. Some of the most recent halvings include 2012 when Bitcoin was cut from a 50 BTC reward for mining to 25 BTC. In 2016, Bitcoin halved from a 25 BTC reward to 12.5 BTC. Lastly, in 2020, Bitcoin halved to only a 6.25 BTC reward for mining the cryptocurrency.

As you can tell, Bitcoin miners are rewarded less and less every four years as Bitcoin grows more rare, like gold, in order to raise its value over time, so it isn’t infinite like Dogecoin cryptocurrency, which barely holds any value.

Update: I started writing this story about why Bitcoin might reach $50,000 on Sunday, February 11th. On February 12th, Bitcoin had already passed the $50,000 milestone before I could even find the time to finish writing this story.

Screenshot by Author of Bitcoin cryptocurrency at more than $50,000

I will make sure to write a story about why Bitcoin passed the $50,000 mark soon after this story is published, so stay tuned for more Bitcoin and cryptocurrency stories coming soon this week.

What is in store for Bitcoin’s future after the 2024 halving

It’s extremely likely that after Bitcoin goes through its halving, the price of Bitcoin will rise like it did after 2020, when it reached $68,000. This does not mean that Bitcoin will rise to the same price that it did in the past. All that investors can know is that Bitcoin likely will increase in price; whether it’s a small increase or an incredible increase is hard to tell, but with how volatile Bitcoin is, it’s not impossible for it to reach the same level that it did in the past eventually or even more than its last all-time high.

If you found this story informative and want to continue being informed about business, investing, finance, and other topics, I highly appreciate your support already, and if you want to continue reading these stories from me, you can subscribe to my page for free on Medium.

You may also be interested in reading:

Investing
Cryptocurrency
Finance
Bitcoin
Technology
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