🎯 Everything you need to know about this event 😉👇:
📝What is the Bitcoin Halving?
A Bitcoin Halving event occurs when the reward for mining Bitcoin transactions is cut in half. Hence, Halvings reduce the rate at which new coins are created and thus lower the available amount of new supply. We have seen three Halvings so far, in 2012, 2016, and 2020, so this will be the fourth $BTC halving.
The next Bitcoin Halving is assumed to take place mid to late April 2024, so basically a year from now. Then, the block reward will go down from 6,25 Bitcoin to 3,125 Bitcoin.
Impact on Bitcoin Supply: This reduction in the block reward has a significant impact on the rate of new bitcoins being issued. It becomes more challenging and expensive for miners to produce new bitcoins, contributing to the concept of Bitcoin's scarcity. As rewards decrease, it is expected that Bitcoin will become more valuable over time, following the principles of supply and demand.
Price Effect: Bitcoin halvings are often associated with increases in the price of Bitcoin. While there are no guarantees, it has been observed that Bitcoin prices have risen in the months and years following each halving. This is partially due to the perception that reducing the supply of new bitcoins enhances their value.
👉 The live countdown is available on the website:
🌐 www.nicehash.com/countdown
