This trend intensified in the 2016 halving; in terms of reduction in new supply as a percentage of the previous halving, it dropped by a third. In 2020, the reduction rate escalated to 43%. According to Pantera, the 2024 halving will result in an almost 50% cutback, chiefly due to the substantial number of Bitcoins already in circulation.<\/p>\n
Sequential halvings magnify Bitcoin\u2019s deflationary character and elucidate the cryptocurrency\u2019s scarcity, an element central to its value proposition. As the reduction rate approaches the 50% mark, the Bitcoin market is poised to encounter increased scarcity, which may significantly influence price dynamics.<\/p>\n
Historical analysis from Pantera indicates similar trends, with the percentage of the previous halving rally experiencing a 32% increase for 2016 and 23% appreciation in 2020. Pantera is projecting a 47% surge up to the 2024 halving, potentially positioning Bitcoin around $35,000 by the upcoming halving.<\/p>\n The post Bitcoin scarcity escalates as halving nears<\/a> appeared first on CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Quick Take Bitcoin\u2019s halvings, as highlighted in Pantera\u2019s recent newsletter, play a significant role in constricting the production of new Bitcoins. The first halving led to a 17% reduction in new supply as a percentage of outstanding Bitcoin, marking the onset of a trend. This trend intensified in the 2016 halving; in terms of reduction […]<\/p>\n","protected":false},"author":2,"featured_media":141609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-141608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141608","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=141608"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141608\/revisions"}],"predecessor-version":[{"id":141610,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141608\/revisions\/141610"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/141609"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=141608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=141608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=141608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Halvings](\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/08\/pantera1.png\")