LIVELearn exactly what you don't know about Halving 👇🏻
📈#Bitcoinwill not pump at the time of the halving.
📉#Bitcoinwill not dump at the time of the halving.
📊 We will feel the effect of the halving slowly for an average of 1.5 years.
🚀 With this halving, the mining reward will drop to 3,125 Bitcoin per block.
📆 Bitcoin Halving occurs approximately every four years and reduces the rate at which new Bitcoins are produced by 50%.
📊 Halving reduces the supply of new bitcoins entering the market and causes prices to rise if demand remains constant or increases.
According to the software of the#Bitcoinnetwork, the reward halving will end with the 32nd halving in 2140.
#Bitcoinis set up as a blockchain network where the reward is halved for every 210,000 blocks produced as a limited-supply asset.
Since the#Bitcoinsupply is set to a maximum of 21 million BTC, when this amount is reached, Bitcoin production will end and miners will not receive block rewards.
🧗 Currently, 19.69 million BTC (approximately 93% of the total supply) has been mined.
Halving forms the basis of the token economy on the Bitcoin network. In this way, the Bitcoin supply is kept under control, providing a significant advantage over the unlimited money supply of fiat currencies.
In addition, the fact that its supply is limited to 21 million is seen as an important factor in the scarcity of the asset. The halving mechanism, coded into the Bitcoin software, occurs automatically due to the decentralized nature of the Blockchain network.
🔥 The 3 halving events that have occurred so far have caused significant increases in the Bitcoin price.
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