When cryptocurrency enthusiasts hear the term “halving,” they immediately think of Bitcoin 
$78,318’s four-year cycles. However, inspired by Bitcoin, many cryptocurrencies have adopted its halving model as well. This strategy assists altcoins in preserving and potentially enhancing their value over the long term. One such noteworthy event is the impending Bittensor halving, a significant moment in the crypto world.
When is the Bittensor Halving?
Bittensor’s scheduled halving is anticipated to take place on December 14th, although the timing was estimated to be approximately 16.5 hours away at the time of writing. This places the event in the early hours of December 15th, around 07:00 in Turkey. The halving is a crucial event because it will slow down the issuance rate of TAO tokens within the Bittensor network. With a maximum supply of 21 million TAO, the emission halves every four years, making this a momentous occasion.
Each block, completed approximately every 12 seconds, produces 1 new TAO Coin. This results in a daily TAO emission of 7,200, which will decrease to 3,600 after the halving. While this means a reduction in immediate gains for miners, validators, and sub-network owners, it could lead to an increase in spot prices as supply diminishes and demand potentially rises, as observed with Bitcoin.
TAO Coin Price Prediction
Unlike Bitcoin’s block target model, Bittensor halving is triggered by reaching a predetermined TAO supply goal. As soon as the target supply is achieved, emissions decrease by 50%. This aligns Bittensor’s schedule with the roughly four-year halving cycle, much like Bitcoin’s.
The initial target of 10.5 million is almost reached, and as inflation decreases, TAO Coin is likely to see better performance. This pattern follows precedents like Bitcoin and Litecoin, where similar dynamics played out.
A sharp drop in inflation is an excellent scenario for the TAO Coin price. Unlike other altcoins, which may hit new all-time lows due to high annual inflation, TAO faces the opposite. However, a halving does not necessarily promise instant price surges, as seen even with BTC. Therefore, it might be prudent to expect fluctuations in TAO Coin’s performance over the months following the halving.
Currently trading at $290, this altcoin resides at a critical support level. After testing this key threshold on several dates, the price has lingered within this support area. Excluding the recent tests, every touch to this region resulted in the price bouncing back to the $369-$477 range, even breaking past $500 at times. If the halving proceeds as anticipated, we may witness the price testing $500 again within the next few months. It’s noteworthy that Grayscale places considerable importance on TAO and offers significant support.
