WHAT'S BITCOIN HALVING?
#Bitcoin halving is an event that occurs approximately every four years in the Bitcoin network. During a halving event, the rewards that Bitcoin miners receive for mining new blocks are cut in half. This means that the rate at which new Bitcoins are created is reduced by half.
The purpose of Bitcoin halving is to control the supply of new Bitcoins entering the market and to ensure that the total supply of Bitcoin does not exceed 21 million, the maximum limit set by the Bitcoin protocol. By reducing the rate of new Bitcoin issuance, halving events are designed to create scarcity and to help maintain the value of Bitcoin over time.
Bitcoin halving events are pre-programmed into the Bitcoin protocol and have occurred three times so far, in 2012, 2016, and 2020. The next halving event is expected to take place in 2024.
Halving events are significant for the Bitcoin ecosystem as they can impact the economics of mining, the price of Bitcoin, and the overall market sentiment. Many investors and traders closely monitor halving events and their potential effects on the Bitcoin market.
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