Bitcoin was designed from its inception by its creator, nicknamed Satoshi Nakamoto, to have a limited supply of 21 million units. Nakamoto wrote the halving into Bitcoin's code, and it works by slowing down the speed at which new Bitcoin comes into circulation. Approximately 19 million bitcoins have been released so far. was exiled.
Bitcoin's blockchain is designed so that a halving occurs every 210 thousand blocks are added to the chain, that is, approximately every four years. In the halving, the amount of Bitcoin offered as a reward to miners is halved. This makes mining less profitable and slows down the production of new bitcoins.
In conclusion; It's all a matter of supply and demand
It is quite difficult to determine the reasons for the crypto rally as there is much less transparency than other markets. #Bitcoin
Ethereum funds have lost approximately $51 million since the beginning of the month. However, there was an outflow of $5 million from multi-asset funds and $3.5 million from Solana funds. Other altcoin funds witnessed fund inflows totaling $21 million.
While Dogecoin continues to reign as the top meme coin, whales are showing increasing interest in the ninth-largest cryptocurrency by market cap. Whales recently added close to 200 million Dogecoin to their portfolio, increasing speculation of an imminent price increase.