Either today or tomorrow, a halving of Bitcoin will occur. After reaching its all-time high in March of this year ($73,803.25), some experts suggest that the timing of the BTC halving could spark six-figure values before the end of the year.
Generally speaking, a stock or investment split is a good thing. It means that growth has reached a point where the value of a single stock or coin is too high.
Bitcoin works differently in that halving is scheduled to occur every time 210,000 blocks are created, which has happened once every four years since 2012. BTC halving doesn’t mean that one coin becomes two.
What it does mean is that the amount of BTC awarded to mining operators is halved, creating scarcity in the market. Once the halving occurs, miners will be rewarded 3.125 BTC per block processed instead of their usual 6.25.
This process is built into the code and designed for routine shortages. With less Bitcoin to go around, investors will drive up the price, trying to get ahold of some.
Speculators have been aware that the April 19th and 20th Bitcoin halving dates were approaching. Since traditional economic indicators are not as effective when tracking cryptocurrency markets, experts must rely on events like these to project ups and downs.
In the case of halving, it is less speculation and more of a sure thing. Prices have gone up during the previous three halving events, in 2012, 2016, and 2020, but there are ongoing geopolitical events that are negatively affecting markets.
The escalation between Israel and Iran caused a decline in value, but a rebound has occurred this morning. Those intending to invest should pay close attention to this situation, as further developments could create a buyer’s dip.
While these halving scenarios are no secret, new buyers are often unaware off these fine details and impact the marketplace.
Each sports betting site that ranks highly among our online sportsbook reviews accepts BTC as a form of deposit and payout. BovadaLV, one of the top online sportsbooks serving the US region, has posted the following message in anticipation of the halving today through tomorrow.
There is not expected to be any delay in processing Bitcoin Cash deposits during the next 48 hours, but many sites are suggesting Litecoin as the fastest option.
Online sportsbooks have also posted financial prop bets anticipating the EOY price of Bitcoin at the end of April in 11 days. The current over/under for April 30 is hovering near or at the current value.
Bitcoin (BTC) Value At The End Of April 2024
- Under $65,000.5o -120
- Over $65,000.50 -110
Bitcoin (BTC) Value At Midnight On December 31, 2024
- Over $71,000.50 -150
- Under $71,000.50 +110
The current odds for betting on Bitcoin suggest that there’s no real chance that its price will surpass $100,000 by the end of the year. Handsome rewards can be earned by placing a wager on a $100K+ value before December 31st, but if that is the case, you may earn more by actually investing in BTC than betting on it.
When Will Bitcoin (BTC) Achieve A Value Of $100K In 2024
- Does Not Happen In 2024 -1000
- April +800
- May +800
- July +1200
- September +1200
- June +1400
- August +1400
- October +1600
- November +1600
- December +1600
While processing delays can be expected between now and the end of the weekend, Bitcoin deposits and withdrawals are still perfectly safe and guaranteed when transacting with any online sportsbook we recommend here at SBL. The only potential difference is slower upload and payout times than usual.
Sources:
- BetOnline Sportsbook (BetOnline AG Review)
- BovadaLV (Bovada Review)
- Coinbase
- Reuters
- CNBC
- Bloomberg
