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The #bitcoinhalving is a significant event in the #BTC ecosystem that occurs approximately every four years or after 210,000 blocks have been mined. The primary purpose of halving is to control Bitcoin's supply, ensuring it remains finite with a maximum cap of 21M coins By reducing the rate at which new bitcoins are generated, halving potentially increases the value of Bitcoin over time due to the reduced supply of new coins entering the market, aligning with the principles of #Supply and #Demand The recent halving is happened in April 2024, when the block reward will be reduced from 6.25 BTC to 3.125 BTC per block. Historically, Bitcoin halvings have coincided with bull runs, with the price climbing significantly in the year following the event. For example, following the previous halvings, the price climbed 8,760% to $1,152, then 2,570% to $17,760, and finally 594% to $67,549 by the following year. The halving event is automatically triggered by the Bitcoin network once 21M blocks have been mined since the last halving. This count is embedded within the Bitcoin protocol and cannot be changed without forking the Bitcoin blockchain and creating a new cryptocurrency. The halving creates scarcity and limits the total supply of bitcoins that will ever exist. This controlled supply is a fundamental aspect of Bitcoin's design and contributes to its appeal for many investors. The reduction in the supply of new bitcoin resulting from halving, coupled with potential increased demand, can create a supply-demand imbalance that may contribute to price appreciation. However, it's important to note that the halving itself is not the sole factor influencing Bitcoin's price. Other market factors, investor sentiment, and macroeconomic conditions can also play significant roles in the price of Bitcoin increasing or decreasing around halving.In summary, the Bitcoin halving is a critical event that reduces the supply of new bitcoins entering the market, potentially increasing the value of Bitcoin over time due to the principles of supply and demand. #write2earn🌐💹

The #bitcoinhalving is a significant event in the #BTC ecosystem that occurs approximately every four years or after 210,000 blocks have been mined. The primary purpose of halving is to control Bitcoin's supply, ensuring it remains finite with a maximum cap of 21M coins By reducing the rate at which new bitcoins are generated, halving potentially increases the value of Bitcoin over time due to the reduced supply of new coins entering the market, aligning with the principles of #Supply and #Demand

The recent halving is happened in April 2024, when the block reward will be reduced from 6.25 BTC to 3.125 BTC per block. Historically, Bitcoin halvings have coincided with bull runs, with the price climbing significantly in the year following the event. For example, following the previous halvings, the price climbed 8,760% to $1,152, then 2,570% to $17,760, and finally 594% to $67,549 by the following year.

The halving event is automatically triggered by the Bitcoin network once 21M blocks have been mined since the last halving.

This count is embedded within the Bitcoin protocol and cannot be changed without forking the Bitcoin blockchain and creating a new cryptocurrency.

The halving creates scarcity and limits the total supply of bitcoins that will ever exist. This controlled supply is a fundamental aspect of Bitcoin's design and contributes to its appeal for many investors. The reduction in the supply of new bitcoin resulting from halving, coupled with potential increased demand, can create a supply-demand imbalance that may contribute to price appreciation.

However, it's important to note that the halving itself is not the sole factor influencing Bitcoin's price. Other market factors, investor sentiment, and macroeconomic conditions can also play significant roles in the price of Bitcoin increasing or decreasing around halving.In summary, the Bitcoin halving is a critical event that reduces the supply of new bitcoins entering the market, potentially increasing the value of Bitcoin over time due to the principles of supply and demand. #write2earn🌐💹

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The top 10 Bitcoin holders based on the information provided from the sources are as follows: #Satoshi Nakamoto : The mysterious creator of Bitcoin, estimated to have mined over 1 million Bitcoins, worth billions of dollars at the current market price. Nakamoto's identity remains unknown, and the coins mined by them have not been moved since the inception of Bitcoin. #Coinbase : A leading cryptocurrency exchange in North America, reported to hold approximately 947,755 BTC, making it one of the largest Bitcoin holders in the market. #Grayscale : The largest crypto asset manager globally, with reported holdings of 643,572 Bitcoin under its control. Grayscale has been instrumental in offering investment products in the crypto space. Binance : A prominent cryptocurrency exchange with a significant holding of 498,147 BTC, positioning it as one of the top Bitcoin holders. US Government : Holding 175,000 BTC, the US Government's Bitcoin holdings reflect its involvement and interest in the cryptocurrency space. Bitfinex : A cryptocurrency exchange with holdings of 192,508 BTC, contributing to its position as one of the major Bitcoin holders. MicroStrategy : A publicly traded business intelligence company known for its aggressive Bitcoin acquisitions, holding approximately 152,800 BTC as of August 2023. Tesla: The electric vehicle company made headlines by purchasing $1.5 billion worth of Bitcoin, becoming one of the largest institutional investors in the asset. Winklevoss Brothers : Known for their involvement in the early days of Bitcoin, the Winklevoss twins are estimated to hold around 7,000 BTC, despite fluctuations in the market affecting their holdings. Riot Blockchain : A cryptocurrency mining company based in Colorado, focusing on supporting the Bitcoin blockchain through large-scale mining operations. These top 10 Bitcoin holders represent a mix of individuals, companies, and entities with significant holdings in the cryptocurrency, shaping the landscape of Bitcoin ownership and influence in the market.
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