What do we expect around this period of Bitcoin halving? What will be the effect on crypto prices?
Bitcoin halving is a scheduled event that occurs approximately every four years in which the reward for mining new Bitcoin blocks is halved. This means that miners receive half the amount of Bitcoin for verifying transactions on the blockchain. The purpose of the halving is to control the supply of Bitcoin and ultimately limit the total number of Bitcoins that can ever be mined to 21 million.
The halving event typically results in a decrease in the rate at which new Bitcoins are created, which can lead to a decrease in the supply of Bitcoin. This decrease in supply, combined with steady or increasing demand, can create scarcity and drive up the price of Bitcoin. Historically, Bitcoin prices have tended to rise in the months leading up to and following a halving event.
Maybe this is what we are experiencing at this moment. Serious pump in prices and then a down trend. After the halving, we may see a pump in Bitcoin price along with other related cryptocurrencies.
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