Bitcoin Halving: Big Cuts, Potential Price Boosts?
Bitcoin halving is on the horizon, expected for April 2024. But what exactly is it, and why should you care?
Simply put, a halving cuts the reward for mining new Bitcoins in half. This happens roughly every four years, programmed into Bitcoin's code. The upcoming halving will slash the reward from 6.25 Bitcoins to 3.125 Bitcoins per block.
Here's why it matters:
Scarcity: Halvings limit the flow of new Bitcoins. With a fixed total supply of 21 million, this creates scarcity, which could drive up the price if demand stays the same or rises.
Past Performance: Historically, Bitcoin's price has surged after halvings. While past performance doesn't guarantee future results, it's a trend worth considering.
Remember: The halving is just one factor affecting Bitcoin's price. Do your own research before making any investment decisions.
