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Home CRYPTO

Bitcoin Halving is in Four Days and Here is Everything You Need to Know

by Sham
April 15, 2024
in CRYPTO
Reading Time: 3 mins read
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  • The Bitcoin halving is an event that occurs every four years, where the reward for mining new Bitcoin blocks is cut in half.
  • This event makes Bitcoin more scarce, as fewer new coins are minted, which has historically led to an increase in Bitcoin’s price after previous halvings.
  • With more mainstream investors now holding Bitcoin through ETFs and other products, the 2024 halving is drawing more attention than previous ones, making it relevant even for casual Bitcoin observers.

The Bitcoin halving event is happening soon, reducing the mining rewards from 6.25 BTC to 3.125 BTC per block. This major milestone has implications for Bitcoin‘s price and is being closely watched by miners, investors and casual observers alike. But what exactly is the halving and why does it matter?

The #Bitcoin halving is only 4 days away $BTC is down 11% since the start of April

Where will $BTC be by the end of April?

— BlockNews.com (@blocknewsdotcom) April 15, 2024

What is the Bitcoin Halving?

The halving is hardcoded into Bitcoin’s protocol and occurs every 210,000 blocks, or about every 4 years. It cuts the mining rewards in half, making Bitcoin more scarce over time. There will only ever be 21 million BTC created, and halvings are key to achieving this fixed supply. With fewer new coins entering circulation, demand often increases relative to supply following halvings.

Why Does the Halving Matter?

Halvings are bullish events for Bitcoin’s price. The reduced supply shock has preceded major bull runs in the past. Following the 2020 halving, BTC surged from $8,500 to over $50,000 within a year. With greater adoption today, some experts predict Bitcoin could reach $90,000 this cycle.

More investors now have exposure through ETFs and funds too. So even casual investors may benefit from the impending supply squeeze. Overall, the halving highlights Bitcoin’s programmable monetary policy and makes BTC scarcer as adoption grows.

Conclusion

While miners take a direct hit from halvings, the events tend to benefit HODLers long-term. With the next halving imminent, Bitcoin’s deflationary design is once again being put to the test. Both miners and investors will be closely monitoring the effects on price, hashrate, and more over the coming weeks and months.

Tags: BitcoinBitcoin HalvingBlockchainbull runetfs
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