Bitcoin Halving Countdown Giveaway

  

As the cryptocurrency community counts down to the 4th Bitcoin halving, expected to take place between April 18 to April 22, Bitcoin.com is launching an exciting new campaign to bring attention to and educate about this critical moment in Bitcoin’s history.

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Prizes

Bitcoin.com is thrilled to announce the Bitcoin Halving Countdown Giveaway. Anyone who installs the Bitcoin.com Wallet app, and purchases any amount of Bitcoin between now and the halving, is automatically entered to win from a prize pool worth the equivalent of $1000. Get all the contest details below. But first, let’s learn more about the Bitcoin halving and why it’s so important.

The halving defined

The Bitcoin halving is an event where the reward for mining a block on the Bitcoin network is reduced by half. The event, which was built into the Bitcoin protocol by its pseudonymous creator Satoshi Nakamoto, occurs roughly every four years, or, more precisely, every 210,000 blocks. The current halving, which will be the fourth since Bitcoin launched in 2009, reduces the number of bitcoins awarded per block from 6.25 to 3.125.

Bitcoin Halving Countdown Giveaway

The Impact of the halving

Previous Bitcoin halvings have coincided with massive increases in the price of Bitcoin:

  • The first halving led to an over 6000% increase in Bitcoin’s price within a year.
  • The second, a 470% surge within a year.
  • The third witnessed a 285% rise within a year.

While past performance is no guarantee of future results, a wide range of thought leaders are in consensus that the trend will continue. For instance:

“Bitcoin has historically bottomed 477 days prior to the halving, climbed leading into it, and then exploded to the upside afterwards. The post-halving rallies have averaged 480 days – from the halving to the peak of that next bull cycle.”
Pantera Capital, A Positive Black Swan

“The day that Bitcoin halves, multiply it by four and 18 months later and it’s been uncanny that that’s been the price of Bitcoin.”
Anthony Scaramucci, Skybridge Capital

“We expect Bitcoin to touch a cycle high of $150,000 by mid-2025.”
Bernstein Research

Halving economics

Understanding why halvings have such a pronounced effect begins with knowing how new bitcoins are generated, which happens through bitcoin mining. Bitcoin miners are essentially paid a certain amount of newly minted bitcoins to secure the Bitcoin network.

Bitcoin mining is a capital intensive business. It requires tons of specialized computer hardware, electricity and infrastructure. Bitcoin miners must sell most, if not all, of their newly minted bitcoins in order to keep operations running. This means that there is always a base level of supply of bitcoin being sold by miners into the market.

After a halving, this base level of supply of bitcoin selling into the market is cut in half. To fully appreciate this supply shock, imagine if all oil producers around the world suddenly produced only half the oil they did the day before. The demand would remain the same, but with only half the supply, the price of oil would rise dramatically.

For a deeper dive into the Bitcoin halving, including further historical analysis and more on market dynamics, please see Bitcoin.com’s Learner Center.

Giveaway

Download the Bitcoin.com Wallet app and begin your Bitcoin and crypto journey. By purchasing any amount of Bitcoin between now and the halving, you’ll be automatically entered to win from the prize pool:

Grand prize: $500 Amazon Gift Certificate
Runner up: $300 Amazon Gift Certificate
Consolation: $100 Amazon Gift Certificate x2

Please see the terms and conditions below.

Promotions Terms and Conditions: The Bitcoin Halving Countdown Contest runs from 9:00 AM UTC April 1 to 12:00 PM UTC Apr 21. To be eligible, participants must download the Bitcoin.com Wallet app, create an account, and purchase any amount of Bitcoin between 9:00 AM UTC April 1 to 12:00 PM UTC Apr 21. Participants must be resident in the United States, Canada, or Australia. Winners will be selected after Apr 21 and contacted by email to claim their prizes. Participation in promotions offered by Saint Bitts LLC (the “Company”) is subject to eligibility criteria specified by each promotion. The Company reserves the right to rescind any promotion, prize, or giveaway at any time without prior notice if fraudulent activity or breach of terms is detected. The Company reserves the right to terminate any promotion at any time without prior notice. Giveaways will be processed within 45 days of promotion conclusion, though processing times may vary. The Company may modify or terminate the promotion’s terms without liability. By participating, individuals agree to abide by these terms and conditions along with our User Agreement.

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