⚠ BITCOIN HALVING MAY BE HERE SOONER THAN YOU KNOW (YET) ⚠
📆 Several months ago, the halving was supposed to take place on April 28; it is now on track to land on April 15. Blame it on the bitcoin price surge, which attracted more mining power and sped up the network.
🖥️ A recent increase in computing power on the Bitcoin blockchain has accelerated the creation of new blocks as mining companies seek to profit from market uptrends.
🔍 Miners are bringing new, more powerful rigs online and even plugging in older machines, increasing the network's computing power known as hashrate.
💡 History seems to be repeating itself: a similar dynamic occurred four years ago in the months leading up to the last halving, which came sooner than expected.
🌐 The halving is seen by many as a momentous event, seen as a catalyst for the rise in the price of bitcoin (BTC) and certainly a talking point in the run-up to this year hitting an all-time high of just a bit more than $69,000. The theory is that if fewer new bitcoins are created and demand continues to rise, they are harder to obtain, so the value of existing ones increases. The April halving will see the block reward increase from 6.25 BTC to 3.125 BTC.
🚀 But there is another dynamic at work in the bitcoin market: as the price of the cryptocurrency rises, the rewards for mining it get richer, and more and more operators are encouraged to turn on their machines or to increase their computing power, known as “hashrate”. "
