- We may be in for a major treat on April 20.
- Besides the Bitcoin (BTC) halving, it will be highlighted by the DOGE Day event and 420 festivities.
Mark your calendars because April 20, 2024, is set to be a blockbuster event with key milestones happening in the cryptocurrency industry and the cannabis sector. Within that period, Bitcoin will enter its fourth halving and Dogecoin will have its annual festivity against the backdrop of the 420 cannabis celebrations.
Bitcoin Halving
The Bitcoin halving is set to trigger on April 20 when the largest cryptocurrency by market cap finally crosses its 840,000th block height. This deflationary mechanism integrated within Bitcoin constantly cuts mining rewards by half at every 210,000th block until the last BTC has been mined.
The upcoming halving marks the fourth in Bitcoin’s history wherein mining rewards will be slashed from the present 6.25 BTC per block to 3.125 BTC. Considering the aggressive accumulation of institutions these days—primarily thanks to the success of spot Bitcoin exchange-traded fund (ETF) issuers—the tighter supply amid the rapidly growing institutional demand post-halving is expected to bring BTC prices to all-new heights.
Analysts are bullish that the trend will eventually lead to Bitcoin conquering the $80K territory before the end of the year and even $200K until 2025.
DOGE Day
Dogecoin Day, DOGE Day, or D-Day has been one of the catalysts of DOGE’s soaring prices last week. This comes alongside the anticipated launch of Dogecoin Futures contracts on the Coinbase platform and the expected support of X’s upcoming Payments platform for the token.
April 20 or 4/20 has been chosen as the date to commemorate the meme origin of DOGE. One of the reasons for this is it coincides with the month when April Fools is celebrated and it falls under the 420 occasion of the marijuana community.
Although the 2024 D-Day is expected to be eclipsed by the halving, the two falling on the same day could bring in hype for Bitcoin, Dogecoin, and other dog-themed altcoins like Shiba Inu (SHIB) and the new Dogecoin20 (DOGE20). It should be noted that D-Day has not brought in significant rallies for DOGE as of late except in 2021 when it was followed by its all-time high the next month. But then again, with DOGE mirroring its movements from 2018 on the way to its all-time high in 2021, this year could be a different story.
The 420 Day
Last but not least, the 420 Day of the cannabis sector could drive in new marijuana-themed coins or cause the resurgence of old cannabis-centered tokens. It would pay off to be on the lookout for opportunities in this niche as well as stocks related to them if you are looking to diversify your investments outside of the crypto space.