Bitcoin's latest information cut in half An event has occurred. Are you ready for what's next?
The quadrennial topical event built into Bitcoin's code occurs approximately every four years. The first happened in November 2012, the second in July 2016, the third in May 2020, and the latest one happened just Friday, April 19, 2024.
And since the fourth block went down, the next block is already scheduled when another 210,000 blocks will be mined. This is expected sometime in 2028, but the exact date will depend on the rate of network activity.
This event is held every four years as it was designed as a feature to keep Bitcoin in a deflationary state. Since only 21 million Bitcoins can be created, the halving will definitely make it harder to create new virtual coins over time.
miner, or power-intensive operations that process transactions on the network, are rewarded with Bitcoin by minting new coins. In Friday's event, the reward was reduced from 6.25 BTC to 3.125 BTC for each block processed.
This means that miners need to work more efficiently. This also means that fewer Bitcoins will be added to the market in the future. At the next halving in 2028, the reward will be further reduced to 1.5625 BTC per block mined.
Some experts in the industry Said Decryption They believe that each halving increases the asset's long-term price because it becomes more scarce.
And history shows that they may be right. Since the last three halvings, from one year to 18 months later, the price of Bitcoin has only increased, and by a lot.
However, the price of Bitcoin has been in tatters recently. After hitting a new all-time high of $73,737 last month, the stock has since fallen below its 2021 high of $69,044.
But experts in the field say it's normal to see increased volatility and even significant price declines ahead of a halving.
Edited by Andrew Hayward
