Crypto News
The Halving Holiday

This article is featured in Bitcoin Magazine’s “The Halving Issue”. Click here to get your Annual Bitcoin Magazine Subscription.
Setting aside certain days for celebration, commemoration or remembrance is a nearly universal practice among humans. While different cultures and religions have their own unique customs and traditions, the entire human race seems to share an underlying propensity to recognize certain occasions as distinct from otherwise ordinary days.
Finally, something we can all agree on! While the word “holiday” or Holy Day, literally means a day that is set apart, there are also examples of special occasions which extend beyond a 24 hour period such as Hanukkah, Ramadan or even the 12 days of Christmas. After only 13 years since its inception, the nascent Bitcoin community has also begun observing its own special occasions: Jan 3rd, October 31st and Bitcoin Pizza Day, to name a few.
Then, about every 4 years, there’s the big one.
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Unlike Birthdays, Kwanza or Presidents’ Day, I would argue there are aspects of Bitcoin’s Halving which make it somewhat extraordinary compared to our standard understanding of holidays and their accompanying traditions. Perhaps in ways that even Bitcoin’s most ardent fanatics have yet to fully appreciate. It’s not that the halving is more important than Christmas or more memorable than a bar mitzvah. But the implications and distinct properties which take place every 240,000 blocks, are simply unlike any other “holiday” that humans are accustomed to observing.
We are approaching Bitcoin’s 4th ever Halving at block height 840,000 which marks the beginning of a new epoch and a reduction of the block reward from 6.25 BTC to 3.125 BTC. But we don’t know exactly what day or time it will take place. You can’t exactly mark the occasion on your calendar because it is dependent on block time not clock time. It is a quadrennial occasion, occurring every 4 years, but it also has a clearly demarcated finale: there will only ever be 32 halvings. Overall, its predictability is somewhat of a paradox. We know for sure the block height, reward change and total number of halvings while having no idea the time it will occur, the impact on bitcoin’s valuation or the critical metric of subsequent network hashrate. Inevitable arguments and assertions about whether or not “the halving is priced in” are as futile as other classic bitcoin debates such as stainless steel vs cast iron, bitcoin vs Bitcoin or my personal favorite: sats vs bits.
New Year’s Eve might be the closest example we have in terms of sharing similar holiday type dynamics with the Halving. The anticipation of a brand new year or a brand new epoch. The tendency to pause and reflect on the previous year or the previous epoch. The mystery of what a fresh 12 months will bring or the mystery of what the next epoch has in store. But New Year’s Eve happens every December 31st at midnight. Nothing is fundamentally different about the world on January 1st and as far as we can tell, humans will continue to repeat this routine indefinitely into the future. Again, making these distinctions isn’t meant to suggest one is “better than the other” but more to highlight the ways in which The Halving is particularly unique as an emergent cultural phenomenon.
We can acknowledge that the implications of The Halving currently only impact a small subset of the world’s population. Those who hold, transact with or mine bitcoin are really the only ones even paying attention. But it’s fun to consider how the commemoration of The Halving might evolve and expand as worldwide adoption of this pristine asset continues to accelerate. Uncertainty and anticipation of the occasion aside, the underlying celebratory aspect of each halving points to one of Bitcoin’s most important properties which is its perfectly knowable and universally auditable scarcity. There can only ever be 32 total halvings because there will only ever be 21 million bitcoin. As the block reward is cut in half, the number of bitcoin mined each epoch, is also cut in half. This means that each halving can essentially be understood as a mini-celebration leading up to the eventual cessation of halvings altogether. The 32nd and final halving is of course when the final few sats will finally be mined, circa 2140. If bitcoin continues on its current trajectory and one day becomes the default currency for humans everywhere, it’s not far off to imagine that the actual holiday which might be celebrated by future generations could become whatever fateful day it happens to be when block 6,720,000 is mined and the final sats enter into the total supply. I get fomo just thinking about it.
Even if I live to be 100 years old, that means I will only be around to see bitcoin reach its 18th or 19th epoch. The block reward will be about 10,000 sats and only 20 full coins will be mined by the entire network for the duration of the epoch. Compared to today’s numbers, these facts are simply mind boggling. Rather than lament missing out on the grand finale of bitcoin’s 32nd and final halving, I want to attempt to properly commemorate the handful of halvings I will have the opportunity to experience, starting with the upcoming 4th halving, estimated to take place sometime in April of 2024. Since this is still a new tradition, we’ve yet to establish any sense of cohesion around how to best ring in each epoch. Some high time preference miners might even argue that it’s more a day of mourning than a cause for excitement. Because there is no central authority in Bitcoin, there will likely be numerous manifestations when it comes to how various pockets of the bitcoin community will mark the occasion. There’s probably no “wrong” way or even a necessity or expectation for a uniform way to celebrate the halving. But there might be value in exploring some possible ways to make the milestone a little more memorable by borrowing insights from other holidays.
If we consider the primary ways in which humans have historically marked special occasions we are able to draw some inspiration when it comes to considering ways to approach the upcoming halving and future halvings that will occur in our lifetimes. I would point to 3 elements in particular that I’m interested in exploring further:
Reflection RitualRenewal
Reflection: 4 years or 210,000 blocks feels like a long ass time in bitcoin years. This feeling is likely more pronounced in our present day because we are still in the early stages of bitcoin’s existence. Either way, it seems like taking time to reflect on the previous epoch as each halving approaches, could serve us well. A lot has happened since block height 630,000 and taking a moment to pause and consider how far we’ve come, might offer a healthy practice and foster deeper collaboration among those of us working to bring about a universal bitcoin standard. This past epoch we saw, among other highlights: El Salvador adopt bitcoin as legal tender, Microstrategy, Tesla and SpaceX add bitcoin to their corporate treasuries, professional athletes demand their multi-million dollar contracts be paid in bitcoin, USD price going as low as $3k and as high as $69,420 and even politicians adopting strategic talking points in an effort to court bitcoiners. We rallied around Hodlnaut and we collectively changed our profile pictures to include laser eyes. We’ve seen bitcoin super bowl ads and the emergence of spot bitcoin ETFs. We’ve made significant progress in a short period of time and reflecting on these moments can allow us to strengthen our resolve to continue fighting alongside fellow bitcoiners, yes, even the ones who enjoy an occasional salad.
Ritual: since we don’t know the exact date or time the halving block will be mined, it can be difficult to plan and execute a party or celebration to commemorate the halving. But few subsets of the population are as creative as bitcoiners when it comes to solving problems and this logistical hurdle is nothing compared to the battles we’ve fought and the bears we’ve slain. If we really want to pull off a party that has a moving target for the invitation’s “when” line, we will find a way. Perhaps the key to creating meaningful rituals is to ensure that we’re among fellow bitcoiners at the turn of the halving. By intentionally seeking out a shared celebration, which can be repeated for each halving, we might receive similar benefits found in other holiday traditions such as creating memorable moments, deepening friendships and building community. This seems especially important for younger or newer bitcoiners who are still wrapping their heads around what is even taking place at the halving. But even the OGs might find value and inspiration in experiencing the tangible growth and momentum from epoch to epoch simply by being surrounded by other bitcoiners as the momentous block is mined.
Renewal: with each new halving comes new opportunity. It’s impossible to predict what the next epoch will bring or what new milestones we’ll achieve. All we can control is our own attitude, posture and commitment to this crazy idea we’ve all bought into and continue to show up for. Bitcoiners have the audacity to believe that a better world is possible. Many of us are here because we’ve rejected the lie that we must accept the prevailing norms of our corrupt monetary system. We envision an optimistic future which allows people to preserve the wealth that they’ve rightfully earned and transact with their peers without requiring permission from tyrannical authorities. It can be easy for us to drift away from this vision, especially as the harsh reality of intense bear markets takes its toll or the latest drama spirals on bitcoin twitter. But with each epoch we have a chance to hit reset on our mindset and return to the original reason for why we’re here to begin with, why we’ve decided to accept the ridicule of friends and family and why we’re more committed to seeing this through than we were when we first started. The practice of renewal offers a fresh sense of hope and reminds us that we are not fighting with each other, but with those who attempt to stand in the way of the sovereignty we are ultimately pursuing.
By combining these 3 habits and finding ways to implement them into our approach to each halving, I believe we can rediscover common ground, limit petty infighting and accelerate progress towards our shared objective of defeating fiat currency and its toxic societal byproducts.
The Halving is a unique occasion and a worthy holy day. We frankly don’t have to do anything at all and we will still receive the hard coded benefits of predictable supply and knowable scarcity. But for bitcoiners to truly maximize the potential of each halving, the people behind the protocol must intentionally rise to the occasion of developing rich traditions to effectively commemorate these unique and scarce milestones.
This article is featured in Bitcoin Magazine’s “The Halving Issue”. Click here to get your Annual Bitcoin Magazine Subscription.
A look at the halving through the lens of holidays and what their cultural significance is. From “The Halving Issue.”
Crypto News
El Salvador Is Still Bitcoin Country

El Salvador is still Bitcoin country, despite the fact that bitcoin is no longer legal tender in the country — at least from where I’m sitting.
Let’s start with some background on the matter.
On January 29, 2025, the Legislative Assembly in El Salvador voted to remove bitcoin’s status as legal tender.
This means that businesses in the country no longer have to accept bitcoin (not that this rule was ever strictly enforced while bitcoin was classified as legal currency, as far as I know; however, I have been told that big businesses that operate in the country (e.g., McDonalds, Walmart) may stop accepting bitcoin as payment now, which could have a detrimental effect on adoption).
This change occurred approximately one month after the International Monetary Fund (IMF) struck a deal with authorities in El Salvador that stipulated the following:
- El Salvador would receive a $1.4 billion loan to support the government’s “reform agenda”
- Bitcoin-related risks be mitigated; bitcoin acceptance in the private sector must be voluntary, while the public sector’s participation in Bitcoin-related activities would be “confined” (bitcoin can no longer be used to settle government debts or pay taxes)
- Operations for the government-created Bitcoin wallet, Chivo, would be “unwound”
While the news of the Salvadoran government’s reversing its policy on bitcoin as legal tender as a result of influence from the IMF feels like a gut punch even to me, someone who isn’t Salvadoran and doesn’t live in the country, I can’t help but believe that El Salvador is still Bitcoin country.
And this feeling has only grown stronger based on what I’ve seen Bitcoiners in El Salvador posting on X.
Evelyn Lemus, co-founder and Director of Education at Bitcoin Berlin, a Bitcoin circular economy within the country, doesn’t plan to stop teaching everyday Salvadorans about Bitcoin.
Just saying it out loud.
Bitcoiners will not stop teaching about Bitcoin and making the adoption happen just because Bitcoin is not legal tender anymore. This means we need to keep pushing harder and keep doing what we do 🇸🇻
LFG🙌
Bitcoin in the hands of people 🫡 pic.twitter.com/hnMpJmL5c7— Evelyn Lemus (@Evelynlemus2906) February 2, 2025
The team at Bit Driver don’t plan to change their business model — accepting bitcoin as taxi fare — any time soon.
We’re still a Bitcoin a company.
— Bitdriver (@bitdriver_sv) February 2, 2025
While John Dennehy, founder of Mi Primer Bitcoin, expressed concern about the government of El Salvador’s rolling back its policy on bitcoin as legal currency, he and the ever-growing team at Mi Primer Bitcoin plan to double down on the work they’re doing.
Good morning from El Salvador!
We are now in DAY NINE since the government rescinded Bitcoin as legal tender, at the request of the IMF (effective after 90 days)
This means grassroots, independent Bitcoin education is now MORE important than ever
In response, at… pic.twitter.com/iTXdf0gAoL
— John Dennehy (@jdennehy_writes) February 7, 2025
The legendary Max and Stacy haven’t publicly voiced any plans to give up on El Salvador anytime soon.
And El Salvador’s Bitcoin Office, run by Stacy, is still stacking bitcoin and helping to run Bitcoin education programs in the country.
🇸🇻EL SALVADOR STACKS ANOTHER 1 BTC TO STRATEGIC RESERVE
El Salvador is still stacking.
Every day.
➡️Total SBR Holdings: 6,071.18 BTC
➡️Total Added Today: +1 BTC
➡️Total Added Past 7 Days: +22 BTC
➡️Total Added Past 30 Days: +60 BTC… pic.twitter.com/y4kv2693BX— The Bitcoin Office (@bitcoinofficesv) February 7, 2025
The lesson here is that while the law around Bitcoin may have changed in El Salvador, the Bitcoiners on the ground in the country have hardly flinched.
Because we are Bitcoin, what matters most is that everyday Salvadorans and everyone else involved in the Bitcoin movement in El Salvador continues to push forward with the Bitcoin mission.
The IMF may have landed a blow, but Bitcoiners in El Salvador remain steadfast in their efforts to foster broader Bitcoin adoption.
El Salvador is still Bitcoin country.
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
Bitcoin may no longer be legal tender in El Salvador, but Bitcoiners in the country haven’t given up on the mission.
Crypto News
Introducing the Bitcoin Everything Indicator

Wouldn’t it be great if we had one all-encompassing metric to guide our Bitcoin investing decisions? That’s precisely what has been created, the Bitcoin Everything Indicator. Recently added to Bitcoin Magazine Pro, this indicator aims to consolidate multiple metrics into a single framework, making Bitcoin analysis and investment decision-making more streamlined.
For a more in-depth look into this topic, check out a recent YouTube video here: The Official Bitcoin EVERYTHING Indicator
Why We Need a Comprehensive Indicator
Investors and analysts typically rely on various metrics, such as on-chain data, technical analysis, and derivative charts. However, focusing too much on one aspect can lead to an incomplete understanding of Bitcoin’s price movements. The Bitcoin Everything Indicator attempts to solve this by integrating key components into one clear metric.
The Core Components of the Bitcoin Everything Indicator
Bitcoin’s price action is deeply influenced by global liquidity cycles, making macroeconomic conditions a fundamental pillar of this indicator. The correlation between Bitcoin and broader financial markets, especially in terms of Global M2 money supply, is clear. When liquidity expands, Bitcoin typically appreciates.
Fundamental factors like Bitcoin’s halving cycles and miner strength play an essential role in its valuation. While halvings decrease new Bitcoin supply, their impact on price appreciation has diminished as over 94% of Bitcoin’s total supply is already in circulation. However, miner profitability remains crucial. The Puell Multiple, which measures miner revenue relative to historical averages, provides insights into market cycles. Historically, when miner profitability is strong, Bitcoin tends to be in a favorable position.
On-chain indicators help assess Bitcoin’s supply and demand dynamics. The MVRV Z-Score, for example, compares Bitcoin’s market cap to its realized cap (average purchase price of all coins). This metric identifies accumulation and distribution zones, highlighting when Bitcoin is overvalued or undervalued.
Another critical on-chain metric is the Spent Output Profit Ratio (SOPR), which examines the profitability of coins being spent. When Bitcoin holders realize massive profits, it often signals a market peak, whereas high losses indicate a market bottom.
The Bitcoin Crosby Ratio is a technical metric that assesses Bitcoin’s overextended or discounted conditions purely based on price action. This ensures that market sentiment and momentum are also accounted for in the Bitcoin Everything Indicator.
Network usage can offer vital clues about Bitcoin’s strength. The Active Address Sentiment Indicator measures the percentage change in active addresses over 28 days. A rise in active addresses generally confirms a bullish trend, while stagnation or decline may signal price weakness.
How the Bitcoin Everything Indicator Works
By blending these various metrics, the Bitcoin Everything Indicator ensures that no single factor is given undue weight. Unlike models that rely too heavily on specific signals, such as the MVRV Z-Score or the Pi Cycle Top, this indicator distributes influence equally across multiple categories. This prevents overfitting and allows the model to adapt to changing market conditions.
Historical Performance vs. Buy-and-Hold Strategy
One of the most striking findings is that the Bitcoin Everything Indicator has outperformed a simple buy-and-hold strategy since Bitcoin was valued at under $6. Using a strategy of accumulating Bitcoin during oversold conditions and gradually selling in overbought zones, investors using this model would have significantly increased their portfolio’s performance with lower drawdowns.
For instance, this model maintains a 20% drawdown compared to the 60-90% declines typically seen in Bitcoin’s history. This suggests that a well-balanced, data-driven approach can help investors make more informed decisions with reduced downside risk.
Conclusion
The Bitcoin Everything Indicator simplifies investing by merging the most critical aspects influencing Bitcoin’s price action into a single metric. It has historically outperformed buy-and-hold strategies while mitigating risk, making it a valuable tool for both retail and institutional investors.
For more detailed Bitcoin analysis and to access advanced features like live charts, personalized indicator alerts, and in-depth industry reports, check out Bitcoin Magazine Pro.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions.
A Single Metric to Rule Them All – The Bitcoin Everything Indicator combines multiple key metrics into one comprehensive tool for better investment decisions.
Crypto News
Here’s The Secret To Investing In Bitcoin

Over the course of the last week, we’ve seen reports of massive bitcoin liquidations.
For those unfamiliar with the term “liquidation” as it applies to finance, it refers to when a trader is forced to close a leveraged trade because the margin for the trade has been depleted.
In everyday pleb terms, it’s when someone borrows money to bet on the direction of the price of bitcoin and they get it wrong, resulting in their losing the money they put up for the trade (or more, in some cases).
When it comes to trading bitcoin with leverage, I keep in mind the first line from the post below:
A fool and his leveraged #bitcoin are soon parted.
To quote one of my teachers, “up 6% today, down 100% tomorrow.”—@aantonop
To quote another, “#notyourkeysnotyourcoins”
Be careful out there. @michaeljburry is right—there’s a lot of hidden leverage in #bitcoin. Caveat emptor.
— Caitlin Long 🔑⚡️🟠 (@CaitlinLong_) June 20, 2021
So, lesson number one in investing in bitcoin is don’t do so with leverage. (Not financial advice.)
Even now that bitcoin has about a $2 trillion market cap, it’s still a highly volatile asset. Its price fluctuates notably in response to news. Because of this, it’s much safer to just buy some bitcoin on the spot market and hold it for the long run (at least four years).
What is more, when and if you choose to buy some bitcoin in the spot market, consider remaining underexposed to bitcoin instead of overexposed to it (those terms are subjective; interpret them as you will).
When you’re overexposed to bitcoin, or if you’re new to the market and you’ve gone all in on bitcoin, it’s more likely that you’ll panic sell if its price tanks in the short term.
How will you know if you’re overexposed? You’ll likely begin losing sleep over it and/or being investing emotional energy in hoping that bitcoin’s price moves in a certain direction (up only).
I share this based on experience. I was overexposed to bitcoin in 2021-2022, and I often felt sick because of it. Once I lessened my exposure, I felt better and was able to think more clearly.
Find an investment threshold with which you’re comfortable, and, again, plan to hold for the long haul.
Aiming to get rich quick with bitcoin is nearly a sure fire recipe for getting yourself rekt.
Take it slow, and heed the very wise advice of legendary Bitcoiner Matt Odell: stay humble, stack sats.
(The inverse of such sage advice would be: be irrational, bet on bitcoin irresponsibly.)
Be careful out there.
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
Don’t use leverage, and don’t overexpose yourself to it.
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