$BTC Halving plays a crucial role in reducing the supply of new Bitcoins. Bitcoin is a digitally scarce asset with a limited supply of 21 million coins.
Halving:
Reduces the mining reward: Miners receive a reward for verifying transactions and adding new blocks to the blockchain.
Slows down the release of new Bitcoins: This leads to increased demand for the available Bitcoins, driving up the price.
Bitcoin Before and After Halving:
2012: After the first halving in November 2012, Bitcoin price increased from $12 to $32 within 6 months.
2016: After the second halving in July 2016, Bitcoin price increased from $650 to $997 within 6 months.
2020: After the third halving in May 2020, Bitcoin price increased from $8,600 to $29,374 within 18 months.
$100k Target:
I believe reaching $100,000 is highly probable, especially with growing awareness and adoption by companies and investors.
