- The Bitcoin cycle typically reaches a low 517-547 days before the next halving event.
- There is a sharp increase in the number of bitcoin ATMs.
The progress toward the next Bitcoin block reward reduction has hit 65%. Several on-chain analytics implied that Bitcoin is at or very close to its cycle bottom. The Bitcoin cycle typically reaches its lowest point 517–547 days before the subsequent halving event. So, it will be almost 500 days before the subsequent halving.
Historically, #BTC tends to bottom 517-547 days prior to the next Halving event
— Rekt Capital (@rektcapital) December 22, 2022
The next Halving is approximately 500 days away$BTC #Crypto #Bitcoin
The Bitcoin halving process is set to reduce the block reward by half every four years. As a result, the block reward will be reduced to 3.125 BTC in May 2024. Bitcoin often hit its lowest point 517–547 days before the subsequent halving event in past cycles. According to reports, the market will be getting close to its cycle bottom since the halving event will occur after 495 days.
Bitcoin ATMs Are Rising Globally
The growth of the cryptocurrency industry has coincided with a sharp increase in the number of bitcoin automated teller machines (ATMs). There are currently 39,678 similar devices located in 84 different countries. As per reports, the majority of bitcoin ATMs are located in North America.
On October 29, 2013, the first bitcoin ATM was placed in a coffee shop in Vancouver, Canada. Crypto ATMs sprouted out last year when most digital currencies reached all-time high prices. Over 20,000 of them have been deployed in numerous nations, including Cambodia, Namibia, Venezuela, Lebanon, and others.
