The next Ethereum halving date will be in mid-2020, and it will lower the block reward to 1.5 ETH. This will help to reduce inflation and control the supply of ETH. The halving has triggered a lot of speculation, including whether or not it will cause a huge price rise. The last halving happened in July of 2016, and the price of ETH was over $20 at the time.
While this halving date will lower the supply, it will drive up demand. This, in turn, will raise the price of ETH. In fact, the demand for the cryptocurrency has been increasing after the Goerli testnet’s success and the announcement of Merge. As a result, analysts believe that the ETH halving date will have a major impact on the market.
Although the first halving event was surrounded by hype and speculation, it did not lead to a big price decline. In the following months, prices remained in the $11 to $14 range. In early August, they started to rise steadily and reached an all-time high of $21 per coin. However, this rally has ended, as the price of ETH fell throughout December.
While there are some naysayers in the crypto world, many analysts are predicting that Ethereum 2.0 will improve its scalability, reduce the number of miners, and cut network energy consumption. This will further cement the role of Ethereum as an energy-efficient, bullish asset. As a result, the price of ETH is expected to increase significantly over the next few months.
While the date for the triple halving is unknown, the current consensus between the two networks suggests that it will happen around the same time. The new Ethereum network will merge with the previous one, which will drastically reduce the total supply of ETH. After the merge, the new network will be known as Ethereum 2.0.
In addition to causing a massive price rally, the triple halving event is expected to cause a massive scarcity in the ethereum market. As a result, ETH prices may go up by more than five-fold. The next triple halving is expected to push ETH prices up to $5,000.
The price of Ethereum is extremely volatile. It started at around $10-12 in 2016, then skyrocketed to more than $1,000 in early 2017, then dropped to $200. Historically, the price of Ethereum has fluctuated wildly, with enormous swings in value. If these trends continue, the price of Ethereum may eventually break the $4,000 mark.
