On April 20, 2024, the fourth halving event in Bitcoin's history occurred: the block reward was reduced from 6.25 BTC to 3.125 BTC<\/strong> . This means miners receive half as much newly issued Bitcoin per block for their work, which directly affects the supply side. Considering that Bitcoin has a fixed supply schedule, such events always have a significant impact on the market.<\/p>\n After the previous halving events (2012, 2016, 2020), significant price increases followed \u2013 though always on different timelines and in different market environments. Now, at the beginning of 2026, it's worth examining whether this pattern holds this time too. I'd like to point out that while historical data can be useful, there's always room for uncertainty in the market.<\/p>\n At the time of the halving, Bitcoin's price was moving around $65,000<\/strong> . In the following months, a consolidation period set in \u2013 similar to previous cycles \u2013 where the market \"digested\" the event. By the end of 2024, partly thanks to the continuous capital inflow of American spot Bitcoin ETFs, the price turned into an upward trend again. The impact of ETFs was particularly significant in demand growth and price stabilization.<\/p>\n During 2025, following the pattern of previous cycles, the price produced significant gains, multiple times surpassing previous all-time highs. Breaking the psychological barrier of $100,000 drew renewed attention to the market. But how long can this rise last? It's worth considering what role institutional investors play in market volatility and how they might influence future trends. The stabilizing effect of institutional investments may moderate price swings but doesn't eliminate them entirely.<\/p>\n The halving directly affected miners: halving the block reward means that for the same energy and hardware investment, you get half as much BTC<\/strong>. This led to the closure of several smaller and less efficient mining operations, while larger, more efficient operators \u2013 especially those working with next-generation ASIC chips (e.g., Antminer S21 series) \u2013 strengthened. ASIC chip development plays a key role in increasing mining efficiency, but are these innovations sufficient to maintain competitiveness?<\/p>\n A transaction fees'<\/strong> role has also increased in value: the extra network activity brought by the Ordinals\/Inscriptions and Runes protocols periodically generated significant fee revenue for miners, partially compensating for the reduced block reward. Do you think this trend can continue, or do miners need to develop new strategies for survival? New strategies could include transitioning to green technologies and further increasing efficiency.<\/p>\n The American spot Bitcoin ETFs approved in January 2024 (BlackRock iShares, Fidelity, etc.) fundamentally changed the market structure. The inflow of institutional capital created an entirely new demand source, which combined with the halving's supply-reducing effect, exerted strong upward pressure on the price. The growth in institutional investment volume has had a stabilizing effect on the Bitcoin market, but is this sustainable in the long run?<\/p>\n The impact of ETFs also increased market liquidity and stability, reducing price fluctuations. But will institutional investor interest remain at this level in the future? To maintain institutional participation, the market must continuously adapt to regulatory changes and new technological developments. Maintaining institutional investor confidence could be crucial for Bitcoin's long-term success.<\/p>\n Every halving cycle is different, and 2024 is no exception:<\/p>\n It's worth considering how new technologies and investment instruments shape the future of the crypto market and influence Bitcoin's long-term perspectives. New technological solutions like decentralized finance (DeFi) and tokenization open new possibilities for Bitcoin. These developments can contribute to the crypto market's maturity and broader acceptance.<\/p>\n Halving events have always been key moments in Bitcoin's history. But why is this phenomenon so important? First, the halving affects Bitcoin's inflation rate, which is one of the lowest in the world. This limited supply is one of the main reasons why Bitcoin is attractive to investors, as it can offer protection against inflation.<\/p>\n On the other hand, halving events have historically always been catalysts for Bitcoin's price appreciation. Looking back at previous halving events, we can see that the decrease in supply often resulted in strong buying pressure, leading to price increases. However, it's worth keeping in mind that the past doesn't necessarily predict the future, and market conditions can always change.<\/p>\n What can we do to make the most of the post-halving period? First, it's worth continuously monitoring the market and staying informed about the latest developments. The crypto market changes quickly, and even the smallest news can cause significant price fluctuations.<\/p>\n Furthermore, it's important to develop a long-term strategy. Although Bitcoin's price may fluctuate in the short term, historical data shows that Bitcoin's value has increased over the long term. A long-term investment strategy can help us avoid panicking over short-term price fluctuations.<\/p>\n Finally, always be aware of the risks. Due to the crypto market's volatility, it's important to invest only as much money as we're willing to lose. Diversification can also be crucial to reduce risks and increase potential profits.<\/p>\n Based on previous cycles, the 12-18 months<\/strong> after the halving tends to be the most intensive growth phase. If this pattern holds, the first half of 2026 could still be part of the bull run. However, due to market complexity, it's impossible to make precise predictions, and numerous factors can influence the price.<\/p>\n However, it's important to highlight:<\/p>\n What impact do you think it will have on the Bitcoin market if the economic environment undergoes dramatic changes? It's important to consider that the impact on cryptocurrencies may depend not only on economic but also on technological and social changes.<\/p>\n The 2024 halving was perhaps the least \"surprising\" of them all for the market \u2014 institutional players were prepared, and capital flowed continuously through ETF channels. Yet, the tightening of the supply side is a fundamental, mathematically encoded fact that has long-term effects. Bitcoin continues to maintain its appeal as a hedge against inflation, and the growth of regulated institutional access opens new opportunities for the market.<\/p>\n By early 2026, it appears that the halving's effect \u2014 similar to previous cycles \u2014 has been priced in, but the full picture is far from complete. This year will be exciting: it will reveal whether Bitcoin has reached a new level of maturity or whether old cyclical patterns continue to dominate. Do you think Bitcoin will be able to maintain and strengthen its current place in the global financial system?<\/p>\n Happy New Year, and we wish all our readers successful trading for 2026!<\/em><\/p>\n \u26a0\ufe0f Legal disclaimer:<\/strong> This article is for informational purposes only and does not constitute investment advice. All investment decisions are made at your own risk.<\/p>\n <\/p>","protected":false},"excerpt":{"rendered":" More than a year and a half has passed since the April 2024 Bitcoin halving. How has the price moved, what has the reduced block reward meant for miners, and what can we expect in 2026?<\/p>","protected":false},"author":1,"featured_media":648,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,3,1],"tags":[22,123,21,4,137,150,158,132,130,159,139,153,157,156,136,129],"class_list":["post-495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-hirek","category-kereskedes","tag-antminer","tag-asic","tag-banyaszat","tag-bitcoin","tag-defi","tag-etf","tag-europa","tag-halving","tag-kornyezet","tag-layer-2","tag-lightning-network","tag-mica","tag-ordinals","tag-piac","tag-szabalyozas","tag-usa"],"_links":{"self":[{"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/posts\/495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/comments?post=495"}],"version-history":[{"count":2,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/posts\/495\/revisions"}],"predecessor-version":[{"id":686,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/posts\/495\/revisions\/686"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/media\/648"}],"wp:attachment":[{"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/media?parent=495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/categories?post=495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kriptoblog.hu\/en\/wp-json\/wp\/v2\/tags?post=495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What happened since the halving?<\/h2>\n
Price<\/h3>\n
Hungarian electricity prices calculation:<\/h3>\n
Institutional presence<\/h3>\n
What makes this cycle different?<\/h2>\n
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Why Does This Matter?<\/h2>\n
Practical Tips<\/h2>\n
What can we expect in 2026?<\/h2>\n
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Summary<\/h2>\n
Sources<\/h2>\n
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