{"id":41221,"date":"2024-11-12T16:30:03","date_gmt":"2024-11-12T16:30:03","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/post-halving-2024-market-is-pushing-bitcoins-price-not-just-trump-says-onramp-bitcoin-co-founder\/"},"modified":"2024-11-12T16:30:03","modified_gmt":"2024-11-12T16:30:03","slug":"post-halving-2024-market-is-pushing-bitcoins-price-not-just-trump-says-onramp-bitcoin-co-founder","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/post-halving-2024-market-is-pushing-bitcoins-price-not-just-trump-says-onramp-bitcoin-co-founder\/","title":{"rendered":"Post-halving 2024 market is pushing Bitcoin&#8217;s price, not just Trump, says Onramp Bitcoin co-founder"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1684937068247-7f2b34f4-bf47-4255-a6e4-5a5b7cbf45af-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1684937068247-7f2b34f4-bf47-4255-a6e4-5a5b7cbf45af-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1684937068247-7f2b34f4-bf47-4255-a6e4-5a5b7cbf45af-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1684937068247-7f2b34f4-bf47-4255-a6e4-5a5b7cbf45af-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li aria-level=\"1\">The last Bitcoin halving took place in April when the block reward dropped from 6.25 Bitcoin to 3.125 Bitcoin<\/li>\n<li aria-level=\"1\">Jesse Myers said Bitcoin\u2019s price needs to go higher for a \u201csupply-demand price\u201d balance to happen<\/li>\n<li aria-level=\"1\">When that occurs, the market will \u201cflywheel into mania and a bubble,\u201d which happened in the 2012, 2016, and 2020 Bitcoin halving events<\/li>\n<\/ul>\n<p>Donald Trump\u2019s re-election into the White House isn\u2019t \u201cthe main story\u201d for Bitcoin\u2019s recent price rally, says Onramp Bitcoin\u2019s co-founder.<\/p>\n<p>In a post on <a href=\"https:\/\/x.com\/Croesus_BTC\/status\/1855992681689657654\" target=\"_blank\" rel=\"noopener\">X<\/a>, Jesse Myers said the main reason is that the market is at the \u201c6+ months post-halving\u201d mark.<\/p>\n<p>Taking place every four years, the last Bitcoin halving occurred in April when the block reward dropped from 6.25 Bitcoin to 3.125. As a result, each new block becomes harder to solve with a lower reward.<\/p>\n<p>A reduction in Bitcoin supply typically means an increase in the price of <a href=\"https:\/\/coinjournal.net\/search\/bitcoin\">Bitcoin<\/a>. The next Bitcoin halving is expected to occur sometime in 2028.<\/p>\n<p>According to Myers, a \u201csupply shock has accumulated,\u201d meaning \u201cthere\u2019s not enough supply available at current prices to satisfy demand,\u201d adding that a \u201csupply-demand price equilibrium must be restored.\u201d<\/p>\n<p>However, the only way Myers believes this will happen \u201cis for the price to go higher, which will flywheel into mania and a bubble, but that\u2019s how this thing works.\u201d<\/p>\n<h2>Post-halving bubbles<\/h2>\n<p>Supplying a chart, Myers indicated that the market is currently at the start of the post-halving bubble. Based on his data, Bitcoin\u2019s price will continue its upward trajectory before peaking to new highs and dropping to current levels.<\/p>\n<figure id=\"attachment_246388\" aria-describedby=\"caption-attachment-246388\" class=\"wp-caption alignnone\"><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" data-source=\"CoinJournal\" class=\"wp-image-246388 size-full\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2024\/11\/Bitcoin-halving-bubble.jpg\" alt=\"\" width=\"1381\" height=\"555\"\/><figcaption id=\"caption-attachment-246388\" class=\"wp-caption-text\">Jesse Myers\u2019 Bitcoin post-halving chart. Source: <a href=\"https:\/\/x.com\/Croesus_BTC\/status\/1855992681689657654\" target=\"_blank\" rel=\"noopener\">Jesse Myers<\/a><\/figcaption><\/figure>\n<p>\u201cIt sounds crazy to say there will be a reliable, predictable bubble every 4 years,\u201d said Myers. \u201cBut then, there\u2019s never been an asset in the world where new supply creation is halved every 4 years.\u201d<\/p>\n<p>Post-halving bubbles happened in the 2012, 2016, and 2020 Bitcoin halvings, said Myers.<\/p>\n<p>The recent Bitcoin price rally comes amid <a href=\"https:\/\/coinjournal.net\/search\/donald+trump\">Trump\u2019s<\/a> re-election into the White House. Based on his campaign trail in the lead-up to election day, Trump came across as pro-crypto compared to current Vice President Kamala Harris.<\/p>\n<p>Last week, Senator Cynthia Lummis also <a href=\"https:\/\/x.com\/SenLummis\/status\/1854208373740458432\" target=\"_blank\" rel=\"noopener\">reaffirmed plans<\/a> that the US is going to build a strategic Bitcoin reserve. If passed, the senator\u2019s Bitcoin Act would propose directing the US Treasury to buy one million over the next five years.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/post-halving-2024-market-is-pushing-bitcoins-price-not-just-trump-says-onramp-bitcoin-co-founder\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) The last Bitcoin halving took place in April when the block reward dropped from 6.25 Bitcoin to 3.125 Bitcoin Jesse Myers said Bitcoin\u2019s price needs to go higher for a \u201csupply-demand price\u201d balance to happen When that occurs, the market will [&hellip;]<\/p>\n","protected":false},"author":3947362367,"featured_media":41222,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/41221"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362367"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=41221"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/41221\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/41222"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=41221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=41221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=41221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}