100 days after the 4th Bitcoin halving event, BTC in particular and the cryptocurrency market in general have made steady progress, creating the premise for a new growth period.

BTC price history after halvings

At 07:10 AM on April 20, 2024 (Vietnam time), Bitcoin completed its 4th halving at block 840,000, mined by the ViaBTC mining pool.

Since then, it has been exactly 100 days since the block reward was halved from 6.25 BTC to only 3.125 BTC.

As explained by Coin68, halving is BTC's deflationary mechanism, designed to halve the amount of new coins produced as block mining rewards after each 120,000 block cycle, or once every 4 years. It is designed to ensure that Bitcoin production is prolonged, so that the maximum total supply of 21 million BTC is only reached in 2140.

Since Bitcoin was born in 2009, it has undergone 4 halvings in 2012, 2016, 2020, 2024. And the next one is 2028.

At the time of the halving, Bitcoin price stabilized around $63,500. So after 100 days, BTC has increased by about 10%, currently trading around $69,500.

But halving affects prices in the long term rather than the short term. Analysts cite historical data showing that:

Halving 1: price increased from $12 and peaked at $1,163 on November 28, 2013, which is 1 year after the halving.

2nd time: price increased from 647 USD to 19,664 USD on 17/12/2017, which means ATH was established 527 days after halving.

3rd time: ATH was established at 67,557 USD after 550 days.

It can be seen that BTC price started to increase strongly at least 400-500 days after halving, or about 1.5 years. Therefore, the current 100-day milestone opens up more hope for a new price increase.

Development of crypto ETFs

Although the price performance after 100 days is not high, it partly shows investors' confidence in the largest coin on the market. Through Bitcoin spot ETFs traded on US stock exchanges, capital flows from traditional investors also have the opportunity to access new markets.

Next is the appearance of Ethereum spot ETF, which not only directly affects ETH price but also shows the overall development of the industry. After BTC and ETH ETFs, the community continues to expect ETFs of other coins, especially Solana.

Crypto ETFs help bring cash flow from traditional finance, supporting investors to have more opportunities to invest in cryptocurrencies with less risk than holding them directly. For example, Wisconsin, Jersey City or Michigan state pension funds have added Bitcoin spot ETFs to their investment portfolios.

Support from politicians

In addition, crypto is receiving more and more attention thanks to the increasingly heated 2024 US presidential election. Because as Coin68 reported, candidate Donald Trump's campaign has turned crypto into one of the main arguments to attract supporters, stemming from the actions of the Biden administration and the Democratic Party to suppress companies in the cryptocurrency industry over the past time.

Trump's participation in the Bitcoin 2024 Conference and his pro-crypto statements once again reinforced public confidence in the cryptocurrency market, pushing the hype to a climax.

Not only Trump, many other politicians have also begun to consider crypto as a strategy to attract voters. Candidate Robert F. Kennedy Jr. promised to make Bitcoin a national reserve asset or Senator Cynthia Lummis proposed that the United States buy 1 million BTC for reserves.