Bitcoin has completed its fourth halving, reducing mining rewards from 6.25 Bitcoin (BTC) per block to 3.125 Bitcoin (BTC).

Bitcoin halvings were coded by Satoshi Nakamoto to maintain a limited supply and prevent inflation.

Despite expectations, Bitcoin’s price has remained stable at around $64,000, reflecting the maturity and resilience of the market.

Bitcoin has completed its fourth halving, marking a major milestone in the cryptocurrency’s history. The halving occurred when the 840,000th block was mined, resulting in a reduction in mining rewards from 6.25 BTC to 3,125 BTC.

Bitcoin Halving: Mining Rewards Cut in Half to 3.125 BTC

The Bitcoin halving mechanism was built into the Bitcoin code by Satoshi Nakamoto, the mysterious creator of Bitcoin, to curb inflation by halving the rate at which new Bitcoins are produced every four years.

After Bitcoin’s halving, its price stabilized at around $63,700, and the crypto community is excited about its next move. Some predictions even soared to $250,000, reflecting people’s optimism about Bitcoin’s future.

Bitcoin is expected to usher in a new growth cycle

Historically, halving events often precede a sharp rise in Bitcoin’s price. The last Bitcoin halving occurred in May 2020, and Bitcoin’s price soared from $8,200 to $64,000 in the following year, highlighting the impact of the event on market sentiment.

The reduction in mining rewards affects miners who verify transactions on the Bitcoin network. This adjustment is an integral part of Bitcoin’s design, ensuring a limited supply of 21 million Bitcoins and preventing inflation.

Bitcoin’s fourth halving once again confirms its unique economic model and its status as a decentralized digital currency with a fixed supply. If Bitcoin soars like previous halvings, it could usher in a new era of growth.